Bitcoin: BTCUSD Last chance for low risk entry coming up
See how the old (now dead) rising support line is still trying to kill anything that comes near it? It's still toxic...
You can see why day traders are wary of it, especially as it coincides with fixed overhead supply at the same 7350 level.
(This stuff takes too long to write and too damn often what I think is about happen, HAS hapened by time it's finished
...very trying, especially as Bitcoin moves between 10 times and 1000 times faster than any other instrument on the planet.
It was already on crack. Now it's doing steroids too. It's Jaws on crack and steroids and we've got it on the hook...maybe
If you were slick enough to get long lower maybe you were slick enough to exit too??? If not, it's OK.
We need to move away from that old toxic rotting line of rising support/new resistance, the left-overs from an old trail, to
stay in outlaw-chasing mode....well there's not much selling going on from 7350 so far...ideally Bitcoin will trade sideways
to down for a while and start to build support off 7260-7245 range and from there start to rise again. Look to buy/add
from this range if tested. Will still be using a tight stop though just below 7220 just in case that old resistance line proves to
be so strong it''s unsurmountable. If it gets struck, the risk is about 50 points. The potential reward is incalculable at present.
It's the only financial instrument in the world you can say that about. Everything else has it's value, pretty much. Good luck!
See how the old (now dead) rising support line is still trying to kill anything that comes near it? It's still toxic...
You can see why day traders are wary of it, especially as it coincides with fixed overhead supply at the same 7350 level.
(This stuff takes too long to write and too damn often what I think is about happen, HAS hapened by time it's finished
...very trying, especially as Bitcoin moves between 10 times and 1000 times faster than any other instrument on the planet.
It was already on crack. Now it's doing steroids too. It's Jaws on crack and steroids and we've got it on the hook...maybe
If you were slick enough to get long lower maybe you were slick enough to exit too??? If not, it's OK.
We need to move away from that old toxic rotting line of rising support/new resistance, the left-overs from an old trail, to
stay in outlaw-chasing mode....well there's not much selling going on from 7350 so far...ideally Bitcoin will trade sideways
to down for a while and start to build support off 7260-7245 range and from there start to rise again. Look to buy/add
from this range if tested. Will still be using a tight stop though just below 7220 just in case that old resistance line proves to
be so strong it''s unsurmountable. If it gets struck, the risk is about 50 points. The potential reward is incalculable at present.
It's the only financial instrument in the world you can say that about. Everything else has it's value, pretty much. Good luck!