Do we wedge upward from here like a few days ago?
A lot of people are saying this looks bearish and that this is the place to go short on bitcoin. While this is an extremely strong resistance zone and in fact it would make more sense to go short here, there are clues that lead me to believe we may break upward. For one, we are still making higher highs on every time frame close. For another, this is starting to remind me a lot of the double bottom that occurred a few days ago, with price consolidation, higher highs, a test spring upward which was instantly sold down BUT still created a higher high, then more consolidation before creating a rising wedge which broke upward.
Personally I've been getting beaten up by the back and forth price action and seriously wishing I had just held from a couple days ago instead of selling at a small profit. That being said I have jumped back into a long and praying that is going to be the right choice. It would be irresponsible of me to recommend you do the same as this is a very precarious position. Even a lot of people who are bullish have great ideas on where the perfect pullback could be before heading higher. That may end up happening, but I'm just saying what I'm seeing atm and allowing for the possibility of upward thrust without much retracement.
Personally I've been getting beaten up by the back and forth price action and seriously wishing I had just held from a couple days ago instead of selling at a small profit. That being said I have jumped back into a long and praying that is going to be the right choice. It would be irresponsible of me to recommend you do the same as this is a very precarious position. Even a lot of people who are bullish have great ideas on where the perfect pullback could be before heading higher. That may end up happening, but I'm just saying what I'm seeing atm and allowing for the possibility of upward thrust without much retracement.
Bình luận:
I wanted to add that we had a wick to the upside two days ago that got rejected, then we kept pumping right through in the ensuing hours. I hope I've figured out the correct way bitcoin is going, I went long with leverage!
Bình luận:
Also, how are shorts at 25,000 now??? Insane
Giao dịch được đóng thủ công:
Oof. Price moved back downward. Took some profits off the table before it went down below my buy-in. I bet scalpers are having a field day with this environment.