I genuinely believed BTC had begun the "gold fish" sequence at 29k but people rushing in with the fear of missing out pushed it higher.
It is possible that BTC continues climbing higher but my chart is showing that the odds are in favour of a downtrend towards 28k and 27k.
I started this year with the mindset of only closing winning trades. I.e I am willing to hold positions that are negative in equity until I can close them at break-even or at a win.
It is starting to look like we are at the start-line of a new macro rally in the digital asset market.
The tell-tale sign is that people are just piling in to purchase at very high prices.
Buying etc at 29k is irresponsible, buying it at 30 is just ridiculous in this particular time-frame, but again I could be completely wrong since a new wave of buyers could just ignore reason and common sense and push it much higher.
It is possible that BTC continues climbing higher but my chart is showing that the odds are in favour of a downtrend towards 28k and 27k.
I started this year with the mindset of only closing winning trades. I.e I am willing to hold positions that are negative in equity until I can close them at break-even or at a win.
It is starting to look like we are at the start-line of a new macro rally in the digital asset market.
The tell-tale sign is that people are just piling in to purchase at very high prices.
Buying etc at 29k is irresponsible, buying it at 30 is just ridiculous in this particular time-frame, but again I could be completely wrong since a new wave of buyers could just ignore reason and common sense and push it much higher.