Retracement ops but neutral on BTC mid-term
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I'm currently short on trading time but working a few retracements - expecting a bounce from 9,025+ to 9,500 - Expectations are based on historical BTC major corrections and current RSI indicators.
KEY Indicators -
- Watching the Monthly RSI, BTC is still oversold so a major correction may still occur (sorry for the FUD but this data means I will not HODL until cheap prices (
1K) or major volume increase.
- In the immediate term folks have taken some profit and some still invested but I don't think there is enough new capital to push prices higher but I don't think the price is going to drop massively in the short term and not expecting a major run up anytime soon. Due to the bullish sentiment I'm expecting this localised correction to go no lower than 8,390.
- The other key indicator is the pros, BTC seems to do the opposite. These guys are conducting solid TA but BTC is not playing ball.
My last trend analysis forecast the attempt at 10k but I did not expect the run up to be so fast and aggressive so I missed out. Good news is that I prefer buying retracement ops in a bearish market but for some reason the chart switched off log mode when I reloaded the page and I messed up the entry price - lesson learnt to double check the basics first and not trade when I'm time poor!
I have become a little bearish despite the good run - This is a psychological barrier I need to overcome as it is this moment when I feel a trader needs to stay vigilant as the real buy opportunities will develop while BTC continues to bumble along for a while (at least until after the US SEC meetings). With all the USDT pair options now i'm spending more time researching Alts (at least until USDT blows up ;)
Still having fun in the black, HardForky
KEY Indicators -
- Watching the Monthly RSI, BTC is still oversold so a major correction may still occur (sorry for the FUD but this data means I will not HODL until cheap prices (
1K) or major volume increase.- In the immediate term folks have taken some profit and some still invested but I don't think there is enough new capital to push prices higher but I don't think the price is going to drop massively in the short term and not expecting a major run up anytime soon. Due to the bullish sentiment I'm expecting this localised correction to go no lower than 8,390.
- The other key indicator is the pros, BTC seems to do the opposite. These guys are conducting solid TA but BTC is not playing ball.
My last trend analysis forecast the attempt at 10k but I did not expect the run up to be so fast and aggressive so I missed out. Good news is that I prefer buying retracement ops in a bearish market but for some reason the chart switched off log mode when I reloaded the page and I messed up the entry price - lesson learnt to double check the basics first and not trade when I'm time poor!
I have become a little bearish despite the good run - This is a psychological barrier I need to overcome as it is this moment when I feel a trader needs to stay vigilant as the real buy opportunities will develop while BTC continues to bumble along for a while (at least until after the US SEC meetings). With all the USDT pair options now i'm spending more time researching Alts (at least until USDT blows up ;)
Still having fun in the black, HardForky
Ghi chú
9,054 on binance. Expecting it to slip to 9,020, perhaps slightly lower.Ghi chú
Either way, not expecting this to turn in a major way until tomorrow.
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