BITCOIN & Markets Looking For Breakout
Prices are getting very tight. We're seeing volumes basically non-existent and that typically means breakout coming. Are we going bullish or bearish? My thoughts are bullish actually. We had a bull break from the bottom consolidation, so this move is likely to continue.
There's obviously a chance for bears to take control here. I just don't see it as likely. The ETF decision was postponed, so I think that from here we will see bulls decide they're ready to enter again.
A lot of the bullish sentiment might have been priced in, but it also has given bulls the momentum, so I'm definitely still thinking bull breakout.
As always, nothing is certain, so make sure there are stop-losses and risk management in place.
Exciting times ahead, and I'm optimistic bulls will enter and we'll see prices rally -- hopefully to a new higher high on the trend.
Thanks for posting todays update
thank you so much!
I’m bearish from here, but bullish overall. Keep stops close and see what happens, I guess. Looks like we’ll know here soon.
Posted using Partiko iOS
Interesting, why is that?
Just think(guessing) the 5 waves are done. Over sold RSI, MacD looking good for dip. And if 3,500 was the bottom that was wave 1 and we are starting wave 2. So just looking for healthy correction. 6.3/5.7. Overall I’m not the best trader yet😂😂 So you could be very right!
Posted using Partiko iOS
Well, I'm thinking more short term. We're in a short-term market right now. Longer, yes, I think there will absolutely be pullback....especially because we broke through the $6k level without any resistance. That level was support for the whole market for a year, so we should have seen more resistance there I would have thought. Definitely, not the best sign and I think there's not as much strength in the market because we didnt see the bulls overcome a struggle there.
Ahh I see, right now I’m using daily/4 hour charts, do to my bad short term trades. Yea agreed, as you also mentioned volume declining.
Posted using Partiko iOS