A quick overview of the current state of bitcoin.
We have just witnessed an epic run into the $7500 zone, a drop "should" be expected based on bitcoins past performance, however, a short opportunity has certainly not presented itself and I will be keeping away from the sell button.
This is the only asset I am happy to leave long positions open without a stop-loss, there is a clear long-term upwards movement and would be naive for anyone to call these levels the top.
We have just witnessed an epic run into the $7500 zone, a drop "should" be expected based on bitcoins past performance, however, a short opportunity has certainly not presented itself and I will be keeping away from the sell button.
This is the only asset I am happy to leave long positions open without a stop-loss, there is a clear long-term upwards movement and would be naive for anyone to call these levels the top.
Comment:
Looks like we're going back to the bull trend (purple line), RSI still neutral so anticipated further upwards movement.
Comment:
Quick update:
BTC touched down on the lower red resistance and (not shown on above chart) has followed the upper red trend line.
It is unlikely we will get back on the purple parabolic trend, but my money is still on an upward trend.
BTC touched down on the lower red resistance and (not shown on above chart) has followed the upper red trend line.
It is unlikely we will get back on the purple parabolic trend, but my money is still on an upward trend.
