Bitcoin is trading harshly against the resistance outlined on my previous analysis (See related ideas below for more information regarding this). This is great news for Bitcoin! To be trading against such a huge resistance shows the bulls are eager to see the back of this resistance altogether as it sabotages all uptrend possibilities! Price is currently trading at the peak of the resistance zone, and is trading right at the 200 moving average resistance at 6760.
Despite the promising starts of this... Price still needs to break the resistance AND retest it as a new support before a new buy opportunity arises. Just because something is strong in the moment it doesn't mean s***! People see a down day and then a sudden pump (Sometimes not even compensating the days down day) and then call the moon, which always makes me laugh at my PC. A up day in a down trend means NOTHING without being a seriously good trader, where you can then identify the up trend for what is actually is.
Wait for a break of the resistance zone and a retest at or around 6730 and then you have the buy. Buying now is like eating like a bird and pooping like an elephant. Don't do it unless you're scalping... Even then, only do this id you're VERY experienced. Scalping without the mind will leave the mind behind, as well as your portfolio.
Where do YOU think price is headed? Leave a comment below with a chart below and let's share our thoughts!
Thank you for your support.
Despite the promising starts of this... Price still needs to break the resistance AND retest it as a new support before a new buy opportunity arises. Just because something is strong in the moment it doesn't mean s***! People see a down day and then a sudden pump (Sometimes not even compensating the days down day) and then call the moon, which always makes me laugh at my PC. A up day in a down trend means NOTHING without being a seriously good trader, where you can then identify the up trend for what is actually is.
Wait for a break of the resistance zone and a retest at or around 6730 and then you have the buy. Buying now is like eating like a bird and pooping like an elephant. Don't do it unless you're scalping... Even then, only do this id you're VERY experienced. Scalping without the mind will leave the mind behind, as well as your portfolio.
Where do YOU think price is headed? Leave a comment below with a chart below and let's share our thoughts!
Thank you for your support.
I am expecting a correction soon enough and some downside which would be very good for a new buy.
Another approach is to wait even more and let price break above the resistance zone and then buy on the support retest.
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Thank you for all your support.