Hello, I make a quick update
Nothing changed though for the moment. There has been a drop but we are still above the support line (tested successfully, even though not a very strong bounce from there) and inside the ASCENDING triangle. Lows are higher lows as of now.
The retracement areas (green boxes) have already been tested perfectly in the first half of May and at the end of may respectively.
So for the moment there is nothing worrying going on, just usual bitco volatility (that is why if you don't buy the dips to acumulate only but you want to speculate I always suggest operating with options and not with high leverage trades).
I will start to worry at the break to the downside of the support (hypotenuse of the triangle and lower boundary of the channel) which is at 9200 at the moment. In that case I will haveto reconsider, but at the moment I am still bullish.
My secret indicator (remember? see the linked idea to refresh your memory) is still at the Local min level, and considering the fact that this min is higher than the previous, my view is still unchanged at a level of 12,500 for the next leg up.
This view is based on a quick check of the market condition, I will also check other indicators and if something very imporant arises I will publish it.
Let me know what you think.
Nothing changed though for the moment. There has been a drop but we are still above the support line (tested successfully, even though not a very strong bounce from there) and inside the ASCENDING triangle. Lows are higher lows as of now.
The retracement areas (green boxes) have already been tested perfectly in the first half of May and at the end of may respectively.
So for the moment there is nothing worrying going on, just usual bitco volatility (that is why if you don't buy the dips to acumulate only but you want to speculate I always suggest operating with options and not with high leverage trades).
I will start to worry at the break to the downside of the support (hypotenuse of the triangle and lower boundary of the channel) which is at 9200 at the moment. In that case I will haveto reconsider, but at the moment I am still bullish.
My secret indicator (remember? see the linked idea to refresh your memory) is still at the Local min level, and considering the fact that this min is higher than the previous, my view is still unchanged at a level of 12,500 for the next leg up.
This view is based on a quick check of the market condition, I will also check other indicators and if something very imporant arises I will publish it.
Let me know what you think.
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Or simply you don't want to risk it?
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Check it out now → ftmo.com/en/?affiliates=2427
