Is Bitcoin Bullish again... The million dollar question. Leets just look at some simple long term trends for Bitcoin. If we take the trend from April 2015 we find Bitcoin bouncing right off of the trend are around the 8500 dollar mark. If Bitcoin is indeed Bullish it should hold here and make a retest for the 10,000 Mark, maybe even 11,000 which is where that down trend resistance is. The break of that down trend is where we really get bullish and should see the run back for 20k.
Lets look at the positives.
1/ We broke the down trend in Jan this year for the first time in a long time.
2/ Our cloud patterns are seeing Green for the first time in a long time
3/ These retraces will always happen, so dont panic. In 2017 the average retrace was around 50% FIB..
4/ More and more people are familiar with Bitcoin now.
The downside.
A really big run in the last 6 months from the $3000 mark to $14,000.. So where is Bitcoin supposed to be..
Looking at previous price points that could be around the $6200 Mark.
For now BTC is holding that $8500 trend. No need to panic until that breaks, then we may see the fast run down.
My strategy for now is accumulating BTC from $9100 to $8400.. Maybe even $7800 Buys, looking for the 10k test again where ill look to cash out some then again as we did a few weeks ago.
Stick with major coins like ETH, LTC, DASH and accumulate and average down as it falls
Lets look at the positives.
1/ We broke the down trend in Jan this year for the first time in a long time.
2/ Our cloud patterns are seeing Green for the first time in a long time
3/ These retraces will always happen, so dont panic. In 2017 the average retrace was around 50% FIB..
4/ More and more people are familiar with Bitcoin now.
The downside.
A really big run in the last 6 months from the $3000 mark to $14,000.. So where is Bitcoin supposed to be..
Looking at previous price points that could be around the $6200 Mark.
For now BTC is holding that $8500 trend. No need to panic until that breaks, then we may see the fast run down.
My strategy for now is accumulating BTC from $9100 to $8400.. Maybe even $7800 Buys, looking for the 10k test again where ill look to cash out some then again as we did a few weeks ago.
Stick with major coins like ETH, LTC, DASH and accumulate and average down as it falls