stewdamus

Bitcoin Bulls Are Not Quitting Here

Long
INDEX:BTCUSD   Bitcoin
Traders,

As you might know, I went short on BTC at 60,500. That was when price lived just under our Multi-Year Support/Resistance TL from 2019. Obviously, I was betting that we would NOT break straight through. I was wrong and as I told my followers in our private chat, I never mind trading a bit of humility for some profit. Bulls have clearly demonstrated that they are in complete and total control. When the charts show me proof that I was wrong and new developments are in the making, I will quickly bow to the data. I know from experience that if I don't, I may lose valuable lost opportunities to profit more in the future if I don't.

More evidence of bull control comes in the way of the following technical developments:

  • Confirmation of a break above our TL
  • Bull Flag formed above our TL
  • New BLUE ascending TL spotted from 2022
  • Target of my Inverse H&S meets BLUE TL Exactly!

As you may be aware, I have now exited my BTC short and pending further price action on Monday I may begin to re-enter BTC LONG.

Until that time, I will be scouting for laggard altcoins that may still have time to pop further in attempts to play catch up.

Apologies to TradingView people but I don't always have time to post all of my trades here.

Stew

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