[BTC Updates] This retrace is very important.

It has been a while since my last post. BTC plays out like I said.

We bounced off the 200 weekly MA and now facing some resistance. "gurus" are so bearish and they think bitcoin is going lower, retail investors who follows them says" I will buy back when its 3000,2000,1000...." yeah right, where were you when it's in $3500 in late 2018??? You hands will be so weak as usual when that happens again.

Here is my plan:
1. BTC can hover over 6400-7400 (0.5/0.618 fib level) for the next few weeks. Its bullish sign, forming a solid base for the next bull run

2. BTC will re-visit 200 weekly MA and bounce back again as we did in 2018 and 2015. Which coincides with 0.382 fib level. I am bullish ! !

3. BTC break 200 weekly MA and revisit last candle low(3883) bearish scenario

If BTC close below 200 weekly MA, I will close all my long position.

My bias is towards scenario 1 and 2, if that's the case, this retracement will be the last chance to allocate your long term position or swing trade.

Happy trading

Comment:

Played out just like I said in my plan #1. Patience is the key. Now, are you going to take profit or sell all your position and start shorting? ?