BTC Key Support Area to Hold and how DXY is at its Peak Top
BTC Predictions
First of all let me start with an update from my previous TA on BTC when I mentioned we could wick this low (region i circle in orange) and a SL below 37k is very important if you are longing (Bearish Flag that we have in the weekly time frame.)
I have done my DCA and my buy in is around 38.5k.
The next 1 hour(daily close) + 24 hours will determine where we are going, a nice hold in this area would mean BTC Bulls are still present. My predictions would be as per the Ghost Feed, also indication of where my partial TP areas would also be. Of course I am not saying this is gonna happen and this post might not age well but I promise that I am not here to be right.
What DXY has to do with BTC?
I am a believer of BTC directly opposing DXY (USD Index) and this is the confluence I am showing why I am bullish on BTC. Simply put, DXY is approaching its peak of Jan '17 (104). Price during this post is 102.3 and going to 104 could take another week so there is still a possibility that BTC is going to stay at this price or drop to the 30k region that people have been mentioning. Lets see what info the market is giving us going into the month of May.
"LONG at SUPPORT, SHORT AT RESISTANCE"
Make things simple. Trading is about trading your beliefs and not trading the market.
First of all let me start with an update from my previous TA on BTC when I mentioned we could wick this low (region i circle in orange) and a SL below 37k is very important if you are longing (Bearish Flag that we have in the weekly time frame.)
The next 1 hour(daily close) + 24 hours will determine where we are going, a nice hold in this area would mean BTC Bulls are still present. My predictions would be as per the Ghost Feed, also indication of where my partial TP areas would also be. Of course I am not saying this is gonna happen and this post might not age well but I promise that I am not here to be right.
What DXY has to do with BTC?
I am a believer of BTC directly opposing DXY (USD Index) and this is the confluence I am showing why I am bullish on BTC. Simply put, DXY is approaching its peak of Jan '17 (104). Price during this post is 102.3 and going to 104 could take another week so there is still a possibility that BTC is going to stay at this price or drop to the 30k region that people have been mentioning. Lets see what info the market is giving us going into the month of May.
"LONG at SUPPORT, SHORT AT RESISTANCE"
Make things simple. Trading is about trading your beliefs and not trading the market.
Trade closed: stop reached