Good morning Traders,
let´s have a quick look at our trading-range today. The little pump yesterday has given a lot of people a little heart-attack cause they feared they will miss out the pump up to $ 12 k or higher.
Some facts straight, if you look at the Daily chart it becomes clear where we are stuck at the moment and why. Not only the price is ranging between two important MA´s (100 and 200), it is also stuck between the Monthly and not very well
known Quarterly Pivot, that has been major support for the recent intra-consolidation descending triangle.
So? Have we produced something major bullish yet, that justifies a swap from swing-trading and low-interval scalping to hodling? The answer is no.
We need to leave this range between $ 9 k and $ 9.75 k and break that P-Q AND the trendline in order to be able to go more over to the green side.
Watch those levels and take what is given in between until the big move happens (unfortunately either direction is still very possible).
Also to mention: We are stuck in the 3D Cloud and yesterday´s try to escape the Daily, failed so far.
Happy trading.
Neru
let´s have a quick look at our trading-range today. The little pump yesterday has given a lot of people a little heart-attack cause they feared they will miss out the pump up to $ 12 k or higher.
Some facts straight, if you look at the Daily chart it becomes clear where we are stuck at the moment and why. Not only the price is ranging between two important MA´s (100 and 200), it is also stuck between the Monthly and not very well
known Quarterly Pivot, that has been major support for the recent intra-consolidation descending triangle.
So? Have we produced something major bullish yet, that justifies a swap from swing-trading and low-interval scalping to hodling? The answer is no.
We need to leave this range between $ 9 k and $ 9.75 k and break that P-Q AND the trendline in order to be able to go more over to the green side.
Watch those levels and take what is given in between until the big move happens (unfortunately either direction is still very possible).
Also to mention: We are stuck in the 3D Cloud and yesterday´s try to escape the Daily, failed so far.
Happy trading.
Neru