Profits taken at 7300 resistance and looking for a pullback to the 6666 level. Then a rise to 8500 area.
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Total Cryptocap struggling to get above support. Let's see where we are at when the hourly bar closes. This thing is in a parabolic incline so much higher prices can easily be attained. Im leaning towards a temporary top here though... although it may be short lived.
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Do these 2 patterns look similar? Yes they do although the second is slightly more bearish than the first. So could we have another up move after this pattern... hell yea. That is why even though i am expecting a pullback to 6666 and have a buy order sitting there, i also have a stop buy order above the recent structure. Best of luck trading this crazy market!
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Cryptocap has trouble with resistance level... i am still bearish until cryptocap closes an hourly car above the green line. If we close an hourly bar above that line i will be looking to re-enter LTC BTC ETH long.
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Good morning folks! Cryptocap took out resistance but then failed meaning i am flat in my positions and still looking for 6666 support on BTC. Happy Mothers Day! ..
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I am bottom fiswhing for BTC in this area. First target is the previous high around 7500.
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Trade active
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Stay the course
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We have a bearish momentum divergence near 8000 resistance. Caution at this level is warranted. Tightening stops is a good idea.
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Well that was fun! I took profits in LTC and deployed them into silver eagles (the cheapest investment there is now) anyway.... BTC is now above a support level as shown on this chart... you can choose to buy close to this level as we will probably go for another run up.
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time to take profits on BTC and all cryptos !
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i am out of cryptos and 100% into precious metals (the next bull market) although i still mine cryptos and enjoy the profits. the biggest mistake any newbies make is "rear view mirror" investing. It always fails. Bull markets typically do not happen 2 times in a row within 10 years... lets make that NEVER. 20 years ... yea maybe... 10 years... forget it. Dont get me wrong i love cryptos and the idea and i still mine them but real investing is based on supply/demand fundamentals and sentiment. There is no way to objectively value ANY crypto as they all have zero intinsic value. They have some value as a medium of exchange but that is it. I actually believe BTC will settle somewhere at an equilibrium point to reflect actual real life value but they are not going to astronomical levels as many hope for. The pump is over. Its time to settle for boring from now on. That being said i still believe they are a way better investment than fiat and will definitely outperform it goin forward. They just wont go to the moon as many expect. On the other hand precious metal have a steadily growing demand from countries whose currencies are depreciating and looking for a stable alternative. PMs i feel are on the verge of a giant new bull market because they are so damn cheap right now. Make up your own mind and invest accordingly. Personally i cannot sleep soundly with my money in cryptos.