One of the most difficult charts recently... it´s been actually though to read the market.
I have both, bullish and bearish cases, but.... because F*CK THE FED, I´m sharing one of the bullish ones which is interesting.
Highlights:
SENTIMENT: mostly bearish. everyone is PTSD, news are not great (Government fight against Crypto), Guggenheim saying it´ll crash... if you think this guys play clean you´re crazy.
Ascending channel
Volume increasing in lows (buys?)
Lows in a timely manner
$50k could have LOTS of stop losses laying there. A big stop hunt + short trap could happen there if there is not enough buying pressure
Let´s see... main thing is to remember to play defense.
COULD CRASH INDEED if if fails to hold $50k and panic hits strong and demand is on vacations.
As Peter Brandt says: "Strong opinions... weakly held".
Play safe.
I have both, bullish and bearish cases, but.... because F*CK THE FED, I´m sharing one of the bullish ones which is interesting.
Highlights:
SENTIMENT: mostly bearish. everyone is PTSD, news are not great (Government fight against Crypto), Guggenheim saying it´ll crash... if you think this guys play clean you´re crazy.
Ascending channel
Volume increasing in lows (buys?)
Lows in a timely manner
$50k could have LOTS of stop losses laying there. A big stop hunt + short trap could happen there if there is not enough buying pressure
Let´s see... main thing is to remember to play defense.
COULD CRASH INDEED if if fails to hold $50k and panic hits strong and demand is on vacations.
As Peter Brandt says: "Strong opinions... weakly held".
Play safe.
