I am seeing some bullish action but still mixed with weakness... We will have a better picture in a few days and hopefully things will go towards the bulls, but we can't know for sure.
I have to give you the whole picture.
After the June breakout THETABTC technically remains strong.
The correction took prices as low as 0.618 Fib. retracement which is normal and then bounce up... Still just consolidation so it can go in any direction but the bias mid-term remains bullish based on the late June bullish break.
Short-term we have these last 5 days closing green... But still, the signals are mixed.
We are aiming higher though because we go with the chart.
Let's get more technical:
- We are strongly bullish above 0.00000511. - Below 511 satoshis the bullish bias remains in play but becomes weaker. - Even 450 can be tested and all we would say is that patience is key.
We prepare for the worst but hope for the best.
We are looking at the negative side because the bulls right now are ahead.
If there is bullish follow up, nothing to do it just go up.
But if it breaks down, we are prepared...
Always consider all scenarios, this way you know what to do ahead of time.
For example, if this chart breaksdown, would you close at a loss or wait long-term?
This question needs to be answered before you start to trade. :)