I'm only buying at the support levels. Just know that BTC can retrace over 80% (or even around 90%) and it often does in a big bear market.
So yeah... hold off for a bit. I got orders around the 6700 for now.
BTC + Alts is undergoing huge correction atm. But I think BTC may have a play at going up another few legs.
Apart from the market noise I think the golden fib at around 8960ish is still a good place to get some buys going.
Coincidentally it's also the trend line of the IHNS at the beginning of 2020.
I will wait for price to come to me.
Target is 10400 to double...
BTC has fallen thru its bullish channel. I think alts will also soon follow suit.
Time to short local resistance and I anticipate lower highs and lower lows.
But watch out for that support target. We might bounce off it.
For a possible small long entry and reshorts later.
I'm going to keep an eye out on EOS for a bit.
From what I think i know. Channel breaks more or less confirm or solidify trend reversal.
We'll probably get a repeat of what happened in 2019 if we get a bear flag outside the bullish channel.
1. The first Green engulfing usually continues up.
2. Resistance exists ! So throw da moon charts away.
3. 8.7 is really really good to sell into. I'm shorting around there even.
4. F E L I Z N A V I D A D.
There's no denying it, we're in a bear trend now. Wont be too long soon before the market capitulates on Cypto (mainly on ETH, LTC, BCH which are very redundant).
That bounce was relief but we're still soooooo far from the bottom of the green channel.
That should be bull's priority to buy there.