Just wanted to make a quick update on a previous post. I proposed a possible consolidation back to 137 for a short time. The support at 145 held and did not break, which is great. We are however having trouble breaking the $150 mark (A wick hit 152 earlier). I would like to point to the multi channel support lines I've drawn. Some are now resistances, but we are still within the channel, and any breaks below the channel have formed a support. There is a danger zone we can point out that we need to break within a few hours, or possible consolidation can occur. it is also important to note that on the most recent Fibonacci drawn, we have double tapped the top 100% and held above it for 2 hours. In conjuction with other resistances, the fib 72% level is another possible pivot point to look at as a target. I personally believe any consolidation are bears grabbing profits that they wanted, but the bull will more than likely buy it up. The amount of volume moving into crypto and the recent bullish sentiment is contagious. Catch it while you can like the ginger bread man!
Any trades trying to catch pullback are only advised for those with the capital to do so. The uptrend is far to strong for anyone to really suggest more than a few point/hour drop
Go with the flow traders
Any trades trying to catch pullback are only advised for those with the capital to do so. The uptrend is far to strong for anyone to really suggest more than a few point/hour drop
Go with the flow traders
