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csdailey
Jan 23, 2021 2:56 PM

Really hoping bitcoin drops today Long

Celo / United States DollarCoinbase

Description

How I see it there are 2 scenarios:

1. Go flat or slightly down and wait to hit resistance line
2. Bitcoin drops and we continue this bullish pump.

Comment

Comments
KognerTrade
During it's last pump it pulled back and consolidated perfectly to the mid-bollie on the Daily chart (20 sma). Could see a pull back to $2.30 - $2.50 area before the next big pump. Seems to be trading with a little more stability since listed on Binance.
csdailey
@KognerTrade, Yeah I was expecting it to drop a bit further, but it seems like we're currently in a potential uptrend. Hard to tell though because after the previous pump it went from $2 to $2.5, but it was a false breakout and later went to $1.8. We could be doing the same thing now. $2.7 to $3.35, but then in a few days drop to $2.5. If we don't break $3.35 in the next day, I'll be pretty concerned.
KognerTrade
@csdailey, You may be right. This little pump might be short-lived. I see the RSI on the Daily is overbought. Probably should pull back to $2.50 - 2.70 area and churn until reset and ready to go. But, this thing acts like the honey badger sometimes and it just don't care. lol If BTC drops hard it might pop a little more.
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