On the 4hr chart, the price had tested the top blue 150 MA several times before breaking out. BTC had been accumulating between these 2 moving averages since June 4th now it may have enough energy to take it to the price next level ($9000?) The 21 EMA will be following close behind the price and I will be using that as my stop loss. If the price falls below the 21 EMA I would exit the trade. Same if it fell back down through the top of the sandwich.
BTW, ETH has done the same thing. It too had been caught in a sandwich of its own and has broken out (less dramatically) today on the 4 hr chart. I would be more cautious with ETH because it does not have the same momentum as BTC and may have to fall back into the sandwich for some more chewing. LOL
I kept it short, and I kept it sweet. The elevator appears to be going up on BTC. See you at the next floor.
BTW, ETH has done the same thing. It too had been caught in a sandwich of its own and has broken out (less dramatically) today on the 4 hr chart. I would be more cautious with ETH because it does not have the same momentum as BTC and may have to fall back into the sandwich for some more chewing. LOL
I kept it short, and I kept it sweet. The elevator appears to be going up on BTC. See you at the next floor.
