Trying to understand that move which all started with a 5 seconds whale buy...
Bullish case : - we just hit bottom with green wave 5. - we just started an impulse which is reaching green wave (iii) on purple resistance. - we can then expect a pullback to retest that resistance as a new support before green wave (v).
Bearish case : - we are about to finish red wave 4 on purple resistance. - the green (i) (ii) (iii) are in reality corrective (a) (b) (c). - we can then expect the completion of red wave 5 towards the 2800-3000 zone.
I honestly have no idea, and I'm watching price action with wide open eyes on the 5 minute chart...
If you are long from $3,300 and a true "Buy and Holder" type does a swing down to $2,800 or a swing up to $3,800 make you get off your position? In either case I may very well add to my position.
If you just owned 1 bitcoin at $3,300 and walked away for a couple years your total potential loss is $3,300 but your potential gains are possibly 10 x that.
If $3,300 is going to make or break somebody they probably shouldn't be trading in the first place. Just my 2 cents.
If you just owned 1 bitcoin at $3,300 and walked away for a couple years your total potential loss is $3,300 but your potential gains are possibly 10 x that.
If $3,300 is going to make or break somebody they probably shouldn't be trading in the first place. Just my 2 cents.