With the ascending triangle, and considering the length of this growth with no significant dumps, I believe retail traders are finally taking money off the sidelines and holding BTC, no more trying to preserve money for future drops. Retail is tired out and ready to hold on to BTC and adding that solid liquidity gives me reason to believe we won't dump past $2950 considering the that hands are more stable now. If anything I see us going sideways for a couple months, but nothing significant like passing $4600 or dropping through $3200. For that reason, I see $4200-4500 in the near future and am currently long, these short-lived drops will not trigger my stop loss.
I am not a professional trader; nearly only an amateur, so my word means nothing and you should not trade off my dumbass calls. Best of luck everyone!
I am not a professional trader; nearly only an amateur, so my word means nothing and you should not trade off my dumbass calls. Best of luck everyone!
Comment:
As we approach the top of this descending wedge, be cautious and understand that we could very well hit that and get violently rejected, and in that case I flip short till $2900. I would make that call around 3550 to flip short.