Bitcoin is finally becoming "real" in the world and is here to stay. These low prices wont last forever!
Before I go into detail about this. Look at the daily chart with HA candles. You can see multiple days of slow accumulation before this spike, which is extremely bullish if you ask me. Especially after we hit historic lows @ 166 of an asset/technology that is the first of its kind. As a community we are all expecting another bubble so you better get ready!
SO..
We had a jump to 260, and we hit hard resistance. A slow bleed back down is necessary. As of now we have hit support on the 4h chart which I hope is temporary. I'm looking for it to break lower down to 236.
My reason for choosing 236 is as follows: If I place a fib retracement from swing high to swing low we can see that as of right now it is sitting at the .5 fib but is still in a downtrend on smaller TF's (Only counting the last few weeks)
I expect this to continue and hit the next major support which just happens to line up with the .382 fib.
I am placing limit buy's at 235.5, 236, and 236.5 to average out my entry and ensure they get picked up. If I manage to snag these I would like to hold them until the next bubble :)
Before I go into detail about this. Look at the daily chart with HA candles. You can see multiple days of slow accumulation before this spike, which is extremely bullish if you ask me. Especially after we hit historic lows @ 166 of an asset/technology that is the first of its kind. As a community we are all expecting another bubble so you better get ready!
SO..
We had a jump to 260, and we hit hard resistance. A slow bleed back down is necessary. As of now we have hit support on the 4h chart which I hope is temporary. I'm looking for it to break lower down to 236.
My reason for choosing 236 is as follows: If I place a fib retracement from swing high to swing low we can see that as of right now it is sitting at the .5 fib but is still in a downtrend on smaller TF's (Only counting the last few weeks)
I expect this to continue and hit the next major support which just happens to line up with the .382 fib.
I am placing limit buy's at 235.5, 236, and 236.5 to average out my entry and ensure they get picked up. If I manage to snag these I would like to hold them until the next bubble :)