Btc broke below the 50 day MA and is now confirming it as resistance. If it can not get back above the 50day very soon it will continue down till around early june, putting us somewhere in the mid to low 7k range. and a ton of resistance. this should see a great bounce. Possibly enough to finally send us back over 10k but will have to re-evaluate at that time.
This is just my working theory, please never trade someone else's TA. I'm a novice here to learn.
This is just my working theory, please never trade someone else's TA. I'm a novice here to learn.
Trade active:
Part of my buy ladder has been hit. patiently waiting to see a confirmation of trend reversal with stops set below my buy area.
Comment:
Buy was hit perfectly, stop losses in place now. this looks like it may run along the support before bouncing. will be interesting to see if support holds.
Trade closed manually:
closing out my position at a small profit. appears at least one whale wants this price a little lower. will be posting new chart and buy