FIGHTING OFF BEARS - LEVELS TO WATCH
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UPDATE - LEVELS TO WATCH (ALT RALLY CONTINUES)
Keeping a close eye on BTC as it relates to the ALT market. We need BTC to build up and correct slowly and most importantly avoid a fast drop off. I don't think the ALT drive is complete yet and we are just finishing the first set towards recovery. There's a lot of TA out there that are still bearish on BTC however I feel like traders' sentiment is starting to become positive yet very cautious which makes perfect sense.
Watch for BTC to stay in the blue triangle and try to holds above 7.9k as it works its way towards breaking 8.4k and retest 9k. What I'm eyeing now is a small cup and handle pattern forming as we recently dropped down to 7.8 and immediately shot back up to 8k.
A drop off pass 7.6k that would put us in danger of a bearish scenario as we floor it to 6.6k and lower. Look for BTC to slowly build up and stay in range of 8-10k for this few months. The crash pattern scenario is still on the table yet delayed for a now . . . i hope.
Avoiding the FUD and the hype.
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*Disclaimer
1) This is for educational purposes only and not financial advice. (blah blah blah)
2) I would really appreciate if you left a comment and some feedback if you like this post.
3) If you disagree with me, let me know what I'm overlooking. It's not about being right or wrong. It's more about creating a helpful and open discussion.
4) I like posting my ideas to keep myself accountable and try to get better about TA for myself. It's better than cycling through my different charts with constantly changing trading strategies.
4) If you are going to leave a troll type comment saying I'm wrong after the fact, you can go John McAfee at a BTC under 1 million USD by the end of 2020.
Unicorn of the Sea
- Narwhal
Keeping a close eye on BTC as it relates to the ALT market. We need BTC to build up and correct slowly and most importantly avoid a fast drop off. I don't think the ALT drive is complete yet and we are just finishing the first set towards recovery. There's a lot of TA out there that are still bearish on BTC however I feel like traders' sentiment is starting to become positive yet very cautious which makes perfect sense.
Watch for BTC to stay in the blue triangle and try to holds above 7.9k as it works its way towards breaking 8.4k and retest 9k. What I'm eyeing now is a small cup and handle pattern forming as we recently dropped down to 7.8 and immediately shot back up to 8k.
A drop off pass 7.6k that would put us in danger of a bearish scenario as we floor it to 6.6k and lower. Look for BTC to slowly build up and stay in range of 8-10k for this few months. The crash pattern scenario is still on the table yet delayed for a now . . . i hope.
Avoiding the FUD and the hype.
-------------------------------------------------------------
*Disclaimer
1) This is for educational purposes only and not financial advice. (blah blah blah)
2) I would really appreciate if you left a comment and some feedback if you like this post.
3) If you disagree with me, let me know what I'm overlooking. It's not about being right or wrong. It's more about creating a helpful and open discussion.
4) I like posting my ideas to keep myself accountable and try to get better about TA for myself. It's better than cycling through my different charts with constantly changing trading strategies.
4) If you are going to leave a troll type comment saying I'm wrong after the fact, you can go John McAfee at a BTC under 1 million USD by the end of 2020.
Unicorn of the Sea
- Narwhal
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