Well boys I just got off the phone with some friends in Houston, Tx and they informed me that Trump has indeed given NASA the thumbs up and BTC has been cleared for atmospheric exit. Now as many know I have been a bear for the last few weeks and have been reluctant to fill my bags for the long trip into deep space however due to recent developments I am being forced to reevaluate my position. The downtrend line proved resistance at 20k and 17k has now been breached for a second time and this time seems to be a little bit more decisive. Given momentum and volume are not all that convincing I could see a drop to 10.1 and a test of support and I do believe this support will hold now that both the new uptrend channel and the old downtrend channel are both acting as support. As many have pointed out the proverbial road ahead will be tough due to a series of resistance points but I think the Inverted Head and Shoulders when coupled with Trump thumbs up and NASA approval to exit will lead us onward and upward.
Projection- possible retrace to 10.1 then lift off to 12.8-13k and the beginning of a new bull market.
Good luck and God bless to all...See you on the other side of the Van Allen!
*not trading advice*
Projection- possible retrace to 10.1 then lift off to 12.8-13k and the beginning of a new bull market.
Good luck and God bless to all...See you on the other side of the Van Allen!
*not trading advice*