Possible break of resistance and uptrend to 8.000
The market has been consolidating against resistance at 7.4K which means lots of shortstops and buy orders are just above this, if we could hit a massive amount of them would be triggered fueling an upward move.
We had two large swing lows, with the last one higher than the previous, neither of them could go below the 7K or even touch 7K, which shows that bulls are in control at this range.
The last false breakout was quickly over and could be other evidence of bulls in control.
The halving is pretty close, only a month and a few days away and bullish sentiment is high because of this.
There is a bullish sentiment all around after the last uptrend and lots of hopes for 8K
We are above the 100 and 200 MA con the 1HR, 4HR, and Daily timeframes and above the Ichimoku cloud on the 4HR and recently broken above it on the daily
This all sums up to a pretty good opportunity for a Long position.
Long position opened at 7261
DISCLAIMER:
THIS IS NOT FINANCIAL ADVICE, I'M NOT AN EXPERT AND ALL MY VIEWS ARE MY OWN AND DO UNDER ANY CIRCUMSTANCE CONSTITUTE ANY KIND OF MARKET OR FINANCIAL ADVICE.
TRADE UNDER YOUR OWN FUCKING RISK AND DO YOUR OWN RESEARCH BEFORE ANY TYPE OF TRADING.
We had two large swing lows, with the last one higher than the previous, neither of them could go below the 7K or even touch 7K, which shows that bulls are in control at this range.
The last false breakout was quickly over and could be other evidence of bulls in control.
The halving is pretty close, only a month and a few days away and bullish sentiment is high because of this.
There is a bullish sentiment all around after the last uptrend and lots of hopes for 8K
We are above the 100 and 200 MA con the 1HR, 4HR, and Daily timeframes and above the Ichimoku cloud on the 4HR and recently broken above it on the daily
This all sums up to a pretty good opportunity for a Long position.
Long position opened at 7261
DISCLAIMER:
THIS IS NOT FINANCIAL ADVICE, I'M NOT AN EXPERT AND ALL MY VIEWS ARE MY OWN AND DO UNDER ANY CIRCUMSTANCE CONSTITUTE ANY KIND OF MARKET OR FINANCIAL ADVICE.
TRADE UNDER YOUR OWN FUCKING RISK AND DO YOUR OWN RESEARCH BEFORE ANY TYPE OF TRADING.
Trade closed: stop reached:
I kept adding to the position as we went down, trying to catch a falling knife.
I got rekted.
Live and learn I guess...
I got rekted.
Live and learn I guess...