As traders what we want to know is if we have hit the bottom or if we are going up, or are we going to fall some more. On the post I did on the 22nd I told you we were going to fall in a matter of hours and we did. Check this out, there are 3 keep spots we need to keep an eye on to see if we are going up or down. I know the answer but I would like to hear from some of you. The chart above shows you the new battleground. If BTC goes and closes below either of those support lines in green that will show weakness and it is time to go down some more soon. If for the last few months we've done nothing but lower lows and lower highs what should your trade strategy be?
This is the next thing to keep an eye on:
If the yellow trendline 50MA goes under the white trendline 200MA (Which is almost a done deal) then we are going down.
This is the last place to keep an eye on:
If we close a candle under the green trendline that means we are going down as well.
So the specific question is this: Would you put money in right now?
THE TREND: Going Down a little more
THE OUTLOOK: Safe to buy a percentage of BTC wait a bit more to buy-in.
This is the next thing to keep an eye on:
If the yellow trendline 50MA goes under the white trendline 200MA (Which is almost a done deal) then we are going down.
This is the last place to keep an eye on:
If we close a candle under the green trendline that means we are going down as well.
So the specific question is this: Would you put money in right now?
THE TREND: Going Down a little more
THE OUTLOOK: Safe to buy a percentage of BTC wait a bit more to buy-in.
