We have some clear objectives and targets as discussed on the chart.
No need to panic here, develop an intermediate plan and stick to it to avoid panic.
Let me know what you think will happen next.
Follow on twitter etc for more updates.
i suspect that the nex thing that happens is btc will fall back to the weekly open
im effectively hedged across the board and have a small short position which i will close if we can find new highs.
the weekly at around 10800 will be the target. Althoguh the close yesterday was great, really i want to see a close today above 11800 to prove that btc is bullish.
its clearer on a daily chart.. it will look weak if we cant complete the bottomoing pattern. Althoguh do note that the OBV is looking good as we currently stand.. In summary, we are in limbo right now - its a coin toss with a downward leaning bear..
to be honest it reminds me alot of 2018 price action. so i hope we get out of this pattern quickly.
it looks like it could consolidate for a few more days (or even weeks?) to build a new floor which could act as strong support later on if the uptrend is resumed. But nothing is given, it might as well retrace lower. I think the critical level to watch at the moment is $11k.
FWIW... last night I suddenly had another MONS (middle-of-the-night-thought)
Bitcoin vs. Gold - which will perform better?
(click on the chart to see the idea)
He is pretty good at hindsight thought, so expect him to tell us how he bought at the bottom when price goes up and then when price goes down how he sold at the top.