1. the price bounced from the $20 000 support 2. it was a false breakout 3. the market gave us a reversal candlestick pattern
Based on these 3 statements we have a strong bullish signal.
But what's next? After the strong bullish candle the market gave us a doji = neutral or reversal candlestick pattern.
The doji candle tells us that buyers are not so strong to push the price higher. It sounds like a bearish signal.
This month will be important for the market. IF we get a bearish candle, we should be ready to see a downward movement toward $20 000 and $14 000 and consolidation around these levels.
IF buyers can keep the bullish momentum, we may think about updating the local high around $25 000 and reaching the $30 000 resistance level.
If we talk about investing, it makes sense to build long positions between $20 000 and $14 000 using the DCA approach and the spot market.
It's just a matter of time when the price will retest the support zone between $20 000 and $14 000 levels.
Auch...I hope not or I missed my entry ...I didn't buy at 15k because of the belief that it will go lower😅
cryptospawn
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@klemenko, I'm thinking you're good. I think from here we will see a bump upwards but before the weather gets hot we will see sub 16 again. Remember, tensions are just starting to flare up even more in Ukraine and Putin just exited the nuclear arms agreement with the US, signed by Gorbachev in the 90's. It's actually a horrible time to be in any market at all, since the floor can vanish right out from under your feet at any point, and if it did no stop loss would save your rear. Patience my friend. There is no such thing as a great spot in the current market, only safe and acceptable. If you're in a safe spot (stable or fiat), you're in a good spot. If you're in a low risk/low capital spot, you're in an acceptable spot. But it won't get any better than that for a while.
That's 210 days... The market gave you plenty of time. Maybe you guys did miss it.
Darthstrukt
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@AlanSantana, I agree. I learned a long time ago (2016) to always DCA downwards mid-halving cycles, especially with a 70% drawdown from ATH. Don't get greedy, that means when you're in a bull or bear sentiment, always DCA (up or down). I don't think we will reach 17k levels again during the rest of this halving cycle.
DLavrov
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@klemenko, the market can do everything! It's a rule which helps to plan trades in a better way.
Ehsan_1307
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Ehsan_1307
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johnnywckd74
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I remember when buying btc at 10k, and people still think its expensive. but boyyy.. whose richer than yours now. Hahaha. But good point there. might as well share with okxideas. looking forward for your next sharing for June? if you have any