My current #Bitcoin thoughts;
We're currently in a possible rising wedge which can easily bring us back to are recent lows.
Breach of the golden horizontal resistance and a daily close above it would mean that my sentiment towards $BTC will be totally changed to bullish/
Remember that the Bitcoin ETF has a big fundamental aspect in this.
Follow my Twitter for consistent updates: twitter.com/MeisterTrader
We're currently in a possible rising wedge which can easily bring us back to are recent lows.
Breach of the golden horizontal resistance and a daily close above it would mean that my sentiment towards $BTC will be totally changed to bullish/
Remember that the Bitcoin ETF has a big fundamental aspect in this.
Follow my Twitter for consistent updates: twitter.com/MeisterTrader
Comment:
The same thing has played out with BTC multiple times, big dump / a lot of fear then sudden reversal but this may need some good fundamental news to help it back up. But I can easily see the 3xxxs come into play soon.
Sold the rest of my trading stack at $5530, I'm personally not looking to catch a bottom unless there is extremely obvious signs like higher tf hammers etc.
In the meanwhile I'll be trading FX, some really good RR setups can be played over there.
The same thing has played out with BTC multiple times, big dump / a lot of fear then sudden reversal but this may need some good fundamental news to help it back up. But I can easily see the 3xxxs come into play soon.
Sold the rest of my trading stack at $5530, I'm personally not looking to catch a bottom unless there is extremely obvious signs like higher tf hammers etc.
In the meanwhile I'll be trading FX, some really good RR setups can be played over there.
Remember; my first bounce bearish target is still valid, I will be layering longs around 5400, ignore the fear once we get to that level.