BTC - Looking for a weekly close above $7K+++
I took off a few tenths last night above $8200 to raise a little cash but still sitting on over half a billion Satoshi on the long side. I just like trading so I set aside 1 BTC to "play with" while keeping the majority of my long position.
I am still looking for a weekly close above $7K to confirm the lower channel breakout like last time. (Yellow Circles) If this follows a similar pattern we could have several more weeks of bullish activity before a major retrace. Of course, that's just an observation and a hunch not a guarantee.
We are also coming up on a weekly cross of the 20 and 40 week moving averages. This will be a huge confirmation of the new Bull Run IMO.
If I can scalp a couple hundred bucks here and there along the way great. If not, I'll just remain long.
Good luck everybody!
I am still looking for a weekly close above $7K to confirm the lower channel breakout like last time. (Yellow Circles) If this follows a similar pattern we could have several more weeks of bullish activity before a major retrace. Of course, that's just an observation and a hunch not a guarantee.
We are also coming up on a weekly cross of the 20 and 40 week moving averages. This will be a huge confirmation of the new Bull Run IMO.
If I can scalp a couple hundred bucks here and there along the way great. If not, I'll just remain long.
Good luck everybody!
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Also, if we get a couple days of bearish malaise that might all provide more Bull Fuel next week by taking many of the indicators off "overbought" for awhile.
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That was a nice dip if you caught it. Glad I raised a little cash beforehand. :)
This actually may be a very good thing for the bullish scenario. The price broke $7K and was immediately bought. Not the price is back over $7K and holding. Like I said previously, finishing above $7K for the week should be a good thing as well as taking off the overbought indicators. If this pans out, the next few weeks should be profitable to the upside I would think. Still long and will be for quite some time from what I'm seeing.
Good luck everybody!
This actually may be a very good thing for the bullish scenario. The price broke $7K and was immediately bought. Not the price is back over $7K and holding. Like I said previously, finishing above $7K for the week should be a good thing as well as taking off the overbought indicators. If this pans out, the next few weeks should be profitable to the upside I would think. Still long and will be for quite some time from what I'm seeing.
Good luck everybody!
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Here is a look at the daily with some of the noise removed.
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15 minute close up. Still looking good so far. Notice the baby blue trend-line. The price danced all over it and moved higher. Another reason we may go higher next week is because everybody is calling for much lower prices. The markets LOVE to jack up as many people as possible at any given time.
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With the recent price action I would have to say we stand a very good chance of closing the week above $7K which should give this run some legs.
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The fight continues.... I still think the bulls are going to win this one. Things are looking good for a weekly close above the multi-year trend (baby blue line)
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Just a few more hours before we know if this breakout gets confirmed or not. I'm thinking it we be confirmed. Others not so much.....
Place your bets and take your chances.......
Place your bets and take your chances.......
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Perhaps? Looking good so far....
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Booyah! I think we're going to make it....