Everyone wants to buy low but nobody wants to buy red. I often wonder if we would lock in profits sooner and buy lower risk if the colors were swapped.
-Weekly structure is in great shape. $10.7k to $9.6k looks like a low risk buy zone WITH THE RIGHT POSITION SIZE AND STOP if you’re trading or just to add to the bag if you’re in it for the long haul. Keep in mind a dropping price can trigger stops and the algos will have a wick-plunging party…not fun for the lighthearted or over leveraged.
-No cross on the MACD and no downward cross of the 5 RSI mid-line signaling a long-term momentum change.
-2017 market had five consolidation periods that lasted an AVERAGE of 2.3 weeks that I can see. Keep in mind the average depth of river lesson and take that time frame with a grain of salt. This also isn’t the 2017 market since we’re in the lead up to halving and that one was post-halving.
-Daily chart update to follow.
-Not financial advice.
-Weekly structure is in great shape. $10.7k to $9.6k looks like a low risk buy zone WITH THE RIGHT POSITION SIZE AND STOP if you’re trading or just to add to the bag if you’re in it for the long haul. Keep in mind a dropping price can trigger stops and the algos will have a wick-plunging party…not fun for the lighthearted or over leveraged.
-No cross on the MACD and no downward cross of the 5 RSI mid-line signaling a long-term momentum change.
-2017 market had five consolidation periods that lasted an AVERAGE of 2.3 weeks that I can see. Keep in mind the average depth of river lesson and take that time frame with a grain of salt. This also isn’t the 2017 market since we’re in the lead up to halving and that one was post-halving.
-Daily chart update to follow.
-Not financial advice.