Hi, I'm new posting and relatively new at trading (1 year and a half), as for now Spy and QQQ are on support trendline, and I think it's the best moment to accumulate long positions, because SPY and QQQ are bound to a rebound, also everyone is so bearish on BTC that it makes me bullish, so there are 2 scenarios that come in my mind :
-1st we could retest the 26k5 area and then, depending how it goes we could dump and THEN break 20k, or we could just keep going up to 32k7, and THEN break the 20k ATH 2018 support. Think about it like a diving board, the person on it first needs to jump to then dive into the pool, same thing goes for BTC.
-2nd we could just sideways like we did for half a month in May to then touch the resistance trendline and break it up or down
I'm on my personal opinion thinking we are going down but first to get a mini bull run to the said 26k5 area up to 32k7 before any 20K breakdown happens. That's why i'm currently long on almost every alts my broker let me and on BTC and ETH.
Have a nice evening
-1st we could retest the 26k5 area and then, depending how it goes we could dump and THEN break 20k, or we could just keep going up to 32k7, and THEN break the 20k ATH 2018 support. Think about it like a diving board, the person on it first needs to jump to then dive into the pool, same thing goes for BTC.
-2nd we could just sideways like we did for half a month in May to then touch the resistance trendline and break it up or down
I'm on my personal opinion thinking we are going down but first to get a mini bull run to the said 26k5 area up to 32k7 before any 20K breakdown happens. That's why i'm currently long on almost every alts my broker let me and on BTC and ETH.
Have a nice evening
Comment:
Reaching the first trendline, expecting a pull back if not the big fall from here