BTC update. Two green candles and everyone is bullish
Over the past couple of days, we've seen some green after a long downtrend. No big surprise.. Remember, it doesn't go straight up or down. It comes in waves with corrections. The only thing we do whenever we correct is resetting the indicators/oscillators to allow them to go even lower or higher.
The biggest challenge now is getting above 6800. If we break above that level, we are likely to see the price somewhere near 8K. If it fails, we are likely going to retest the support zone with the chance of breaking trough it. I still think we haven't seen the bottom just yet.
Some people will say that it's now the time to moon. So based on a few small green candles after a long bearisch trend of 2 months (6 months in total), it's now going to moon and make new highs. I don't think so just yet. There are still some big challenges ahead of us...
Don't FOMO into it
Don't trade against the big trend
Wait for more confirmation
Rather miss out on a few % gain than losing money
Buy the F deep dip
The biggest challenge now is getting above 6800. If we break above that level, we are likely to see the price somewhere near 8K. If it fails, we are likely going to retest the support zone with the chance of breaking trough it. I still think we haven't seen the bottom just yet.
Some people will say that it's now the time to moon. So based on a few small green candles after a long bearisch trend of 2 months (6 months in total), it's now going to moon and make new highs. I don't think so just yet. There are still some big challenges ahead of us...
Don't FOMO into it
Don't trade against the big trend
Wait for more confirmation
Rather miss out on a few % gain than losing money
Buy the F deep dip
Comment:
Lots of altcoins lost momentum aswel
Comment:
Rising wedge. Targets: 6300. If we break that, we will test the 6K once again. If it breaks out of 6850, we are likely to see 7,5K of even 8K.
Rising wedge. Targets: 6300. If we break that, we will test the 6K once again. If it breaks out of 6850, we are likely to see 7,5K of even 8K.
BTC lost momentum and broke down. Also notice the bat pattern in purple. It has all requirements and has high chances of breaking down and even below point A and C.