Micro and Macro support at 45k. I believe we're more likely to bounce up at 45k due to the importance of this level on a macro scale (see previous analysis). I'm going long here however the possibility of a fake out seems high. If you're a nervous wreck, you might wait for the daily candle to close before entering any trades.
Overall not a good level to take any leveraged shorts/longs at.
been keeping an eye on your charts through the list of traders i follow. your last one was right down the middle of my own bias, it seems like everyone lately can make a good bull or bear case for BTC. I'm feeling sketched out, there's not enough signals to convince me in either direction. I will ask though, isn't this support line you draw the bottom of a rising wedge? certainly could continue to squeeze inside the wedge to 50k from here, but if it closes underneath that line we'll back test and dump. it won't be pretty
EhhEhhRon
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@stormtroopin, I appreciate the follow. TBH, I've basically thrown traditional trading patterns out the window considering the crypto market is anything but traditional (and I don't mean that in a good way). These patterns might hold more water in the long term....but in the short term there is just too many moving parts to really come away with anything meaningful. We're definitely at a decisive moment in the crypto market so most people are lost on which direction we take. Ultimately the best advice I could give you is to really sit down and think about/research the structures and forces behind this market. Things like exchanges, market makers, liquidity, etc. Compile the best picture you can of the market and then start looking at your more technical side of things (indicators, patterns, etc.) with a more grounded perspective. At the very least, this will give you more certainty in your decisions...even if you're wrong.
As far as not financial advice predictions go
I'm thinking bitcoin is about to pump hard to 58k'ish very soon (before the end of the month). Once it picks a direction, it's not going to stop and I don't see that direction as down at the moment.