Bitcoin is acting up as usual.
After the $100,000,000 liquidation hunt that occurred yesterday, I think we may be looking for an interesting weekly closing candle.
That in mind, in this chart, the orange dotted line is where we should aim to break and hold. That represents the weakest resistance. Should we break that and the following red dotted line, I would like to see a quick push back to 30 cents by the middle of next week, if not by the end of today.
Entry : 0.27676
SL : 0.24722
I chose a riskier stop to avoid the stop hunts that frequent this asset, well, this asset class as a whole.
LOGIC FOR LONG ENTRY :
1. BTC's prospective health prehalving.
2. Broke back above and held support on the 3hr.
3. XRP reached over 35 cents when BTC was meddling around at the 9.9k-10.2k levels, which I expect us to return to shortly, maybe today, or the end of Sunday.
4. Financial sector prospective reform.
5. Top 5 market cap cryptocurrency.
6. "Altcoin SZN BRUH".
7. Practical use case.
8. We are still in a bull market.
After the $100,000,000 liquidation hunt that occurred yesterday, I think we may be looking for an interesting weekly closing candle.
That in mind, in this chart, the orange dotted line is where we should aim to break and hold. That represents the weakest resistance. Should we break that and the following red dotted line, I would like to see a quick push back to 30 cents by the middle of next week, if not by the end of today.
Entry : 0.27676
SL : 0.24722
I chose a riskier stop to avoid the stop hunts that frequent this asset, well, this asset class as a whole.
LOGIC FOR LONG ENTRY :
1. BTC's prospective health prehalving.
2. Broke back above and held support on the 3hr.
3. XRP reached over 35 cents when BTC was meddling around at the 9.9k-10.2k levels, which I expect us to return to shortly, maybe today, or the end of Sunday.
4. Financial sector prospective reform.
5. Top 5 market cap cryptocurrency.
6. "Altcoin SZN BRUH".
7. Practical use case.
8. We are still in a bull market.