Bitcoin / US Dollar Perpetual Inverse Swap ContractBitMEX
Description
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In not so many words, we do have a situation in BTC which is very psychologically driven with a touch of FOMO (Fear Of Missing Out).
I might get into my thinking later in an edit. But I would like to get this "idea" out there before..
So this is a daily candle chart, and basically if we get a close in the green, or over 6k, then you can set your sell orders a bit higher than what you had planned maybe (red area). But don't forget many are thinking the same way, so don't get greedy.
Comment
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If we make a smaller correction down and bounce at the 5600 or go sideways for a bit, that "if" is below 20% right now. So by the feel of the market right now I'm going in for a long. But I am going to sit here and watch (acting manual stop loss)
Price action around $5725 shows a fair bit of enthusiasm, and not much fear of "not making it" in the speculative sense of next candle close. I remain "neurtral" altough Long is what I see myself proclaiming to be in a few hours if the pace remains the same or increases. (Watch the volume, it's what gives most information right now.)