Last Monday (30 July) was a Bloody Monday and proceeded with downtrend for the rest of the week. This Monday has started out on a downtrend. Trade safely! I have low ball order in on on some alts.
I'm not a Chartist by far but the other day I charted $6815 by today to see how close I could get. It hit lows of $6882 yesterday then bounced. Looks like BTC is holding stronger than a lot of analyst expected today.
I'm always bullish on BTC and hope for the best. Still, the point of this post is that I stay away from Mondays UNLESS I'm sitting at the computer TREND TRADING or if BTC is up trending leaving behind Green candles on the daily. Thanks
I'm not a Chartist by far but the other day I charted $6815 by today to see how close I could get. It hit lows of $6882 yesterday then bounced. Looks like BTC is holding stronger than a lot of analyst expected today.
I'm always bullish on BTC and hope for the best. Still, the point of this post is that I stay away from Mondays UNLESS I'm sitting at the computer TREND TRADING or if BTC is up trending leaving behind Green candles on the daily. Thanks
Comment:
Looking at the bigger picture zooming out to the 1D. This is the 8th day in a row on a red candle. There nothing good going on for BTC at the moment on any time frame, 4H, 1H, etc. I would stay away today. If anything, Look for low entries for the bounce. Maybe the end of the today or early morning tomorrow might be a better time to re-asses and get into your favorite Alts or BTC. Well these are my rules.
