Im currently staying out of bitcoin as i think we will shortly see the dramatic fall to the sub 3k Levels. We ' MAY' retest the $4000 zone but i wouldn't expect it to push through here right now.
Taking a look at the bigger picture the 200 EMA has fallen fast and easy through all time frames and all EMA on the 200 is now resistance, even on the weekly.. WAY BELOW.
An 88% retrace of the entire cycle will see the RED Zone where i will be accumulating down.
Im staying out of BITCOIN buy ill be looking for 5 to 10% trades still on others which i will posy in the signals.
Its always best to have a strategy for either way. If we follow to the upside and continue the grander 3rd wave we are in then there will be plenty of opportunities to trade, but a lot more confirmation is needed. Its about lowering risk right now.
Have an amazing weekend
Taking a look at the bigger picture the 200 EMA has fallen fast and easy through all time frames and all EMA on the 200 is now resistance, even on the weekly.. WAY BELOW.
An 88% retrace of the entire cycle will see the RED Zone where i will be accumulating down.
Im staying out of BITCOIN buy ill be looking for 5 to 10% trades still on others which i will posy in the signals.
Its always best to have a strategy for either way. If we follow to the upside and continue the grander 3rd wave we are in then there will be plenty of opportunities to trade, but a lot more confirmation is needed. Its about lowering risk right now.
Have an amazing weekend