Hello fellow traders and investors,
I was going to publish this post yesterday but to be honest I was not sure about my condition getting triggered. Now that my long position has triggered I am posting this idea. BTC is in a critical moment and whole the market is watching it very carefully. In the macro scale BTC is retesting an important Fibonacci zone( 1.618) which I think not only can support the price but also may possibly push it higher. However I think the chance that BTC linger in this zone for a while, before any significant move up or down, is very high. In this period, some alts which EGLD is one of them show significant possibility of growth and trading them against BTC can easily increase the size of our BTC investment.
This is the weekly chart of BTC and ADX is extremely bullish that means a huge momentum.
By the way, trading alts against BTC the times that the market is highly and excitedly volatile is very risky; and any trader must follow strict measures to take care of her/his capital.
Please hit the like button if this analysis appeals to you. That would be a great encouragement. And please comment if you disagree or if you think I have missed something in weighting the situation. I am a good learner and would be thankful to every person that helps me grow to be a good trader .
EGLDBTC
I was going to publish this post yesterday but to be honest I was not sure about my condition getting triggered. Now that my long position has triggered I am posting this idea. BTC is in a critical moment and whole the market is watching it very carefully. In the macro scale BTC is retesting an important Fibonacci zone( 1.618) which I think not only can support the price but also may possibly push it higher. However I think the chance that BTC linger in this zone for a while, before any significant move up or down, is very high. In this period, some alts which EGLD is one of them show significant possibility of growth and trading them against BTC can easily increase the size of our BTC investment.
By the way, trading alts against BTC the times that the market is highly and excitedly volatile is very risky; and any trader must follow strict measures to take care of her/his capital.
Please hit the like button if this analysis appeals to you. That would be a great encouragement. And please comment if you disagree or if you think I have missed something in weighting the situation. I am a good learner and would be thankful to every person that helps me grow to be a good trader .
EGLDBTC
Trade active
Trade closed: target reached