Picture is clear, BTC is in a channel just like earlier and it is at the bottom line of channel currently which gives us good opportunity to accumulate cryptos for at least short to - medium term. It may even breakout of channel, we'll see about it when it reaches on the resistance of channel.
The dash line drawn below is the line through JAN Monthly 20SMA i.e. 35550.
If BTC comes to that by any means it will be heaven buying and it might be fast and furious, BTC might make a wick and retrace from the level.
Even otherwise if it doesn't come there isn't much difference this time is a boon for investors.
Make sure it does not go below 20 SMA on closing basis , if it does I am going short.
Always remember, It is better safe then sorry.
How to invest
1) Either go for dollar cost averaging.
2) Wait for the confirmation of trendline breakout at least.
If you see my last analysis, there was a level of confirmation which was never breached, therefore no Longs were triggered and we were saved.
It is always recommended to protect your capital, because you never know what happens next. Protecting your capital should be your first priority.
Have a safe and well defined trading journey, Ciao.
The dash line drawn below is the line through JAN Monthly 20SMA i.e. 35550.
If BTC comes to that by any means it will be heaven buying and it might be fast and furious, BTC might make a wick and retrace from the level.
Even otherwise if it doesn't come there isn't much difference this time is a boon for investors.
Make sure it does not go below 20 SMA on closing basis , if it does I am going short.
Always remember, It is better safe then sorry.
How to invest
1) Either go for dollar cost averaging.
2) Wait for the confirmation of trendline breakout at least.
If you see my last analysis, there was a level of confirmation which was never breached, therefore no Longs were triggered and we were saved.
It is always recommended to protect your capital, because you never know what happens next. Protecting your capital should be your first priority.
Have a safe and well defined trading journey, Ciao.