We are still in the cloud, "no trade zone" I am still neutral especially the local trend seems to be holding and coincidently is the bottom of the cloud, I would expect more chops in this cloud zone, stay especially out of the inverse perp markets as chops will destroy your position. Above the cloud bullish below the cloud bearish. Once we have a daily close above or below the cloud it will show us where we are destine to go. I suspect the local trend line will break as I think the resistance at 45k maybe have to much sell pressure at those prices to push higher, this is the conundrum we find ourselves as crypto traders. If BTC can clear the cloud it still has to contend with the 45k resistance, it will however pull the alt coin markets up with it. If we collapse here you can count on alt coin purges, hedge into proper layer 1 blockchains that have promising futures and remove you emotional bias from these trades this is where you get rekt by doing that. The safest play here is to hedge into established blockchains that show promise, once we clear the cloud we can start talking about playing derivatives on btc settlement layer to accumulate more btc or eth settlement layers as V2 will be released this year (stack 'em for compounding interest and a future you can live off easy passive income), even in bear markets there is much work to do to set yourself up for a brighter future. As the title shows we are stuck between a rock and a hard place, stay vigilant and unwavering.
***One thing worth noting there is a bullish divergence on the 20EMA and the 50EMA though it won't be enough as the prices are below these EMAs don't fall into this trap especially in the cloud.
"I'm in a cloud why can't the sun come out"
-Kewlkat
***One thing worth noting there is a bullish divergence on the 20EMA and the 50EMA though it won't be enough as the prices are below these EMAs don't fall into this trap especially in the cloud.
"I'm in a cloud why can't the sun come out"
-Kewlkat