Technically speaking, the indicators are saying BTC is a buy.
Technically, we are still fairly oversold on larger time frames.
Still, we have to be very cautious as it seems BTC has run out
of steam.
BTC just barely forges ahead, showing clear proof the bulls are still
around. The RSI is very neutral on the 4H with lots of room to
go either way.
The MACD suggests it's buy time. While I do agree, how long do
you want to hold your BTC for before it hits the profit area you
want? If it's a Million dollars, I'd buy as much BTC as possible.
If it's 10 grand, you might be waiting a few days to a couple weeks.
Either way it goes, in my opinion buying ANY BTC at this level is solid if you
are looking to hold for a 2 month+ timeframe. Noone will tell you
that though because nobody can predict the future. It's all about
the right now right this second culture that I am not a fan of.
If you're looking to make quick profit on BTC, you might have to wait.
It looks to me like it is forming an ascending bearish wedge.
This being said, look to my prior idea for price targets. I believe we
will hold this time overall, but time is running out if BTC is to grow.
From here on out we would need a pretty massive breakout or a few
smaller size ones to go Bullish again. Only a break above around
$9,200 is a bullish sign at this point.
Technically, we are still fairly oversold on larger time frames.
Still, we have to be very cautious as it seems BTC has run out
of steam.
BTC just barely forges ahead, showing clear proof the bulls are still
around. The RSI is very neutral on the 4H with lots of room to
go either way.
The MACD suggests it's buy time. While I do agree, how long do
you want to hold your BTC for before it hits the profit area you
want? If it's a Million dollars, I'd buy as much BTC as possible.
If it's 10 grand, you might be waiting a few days to a couple weeks.
Either way it goes, in my opinion buying ANY BTC at this level is solid if you
are looking to hold for a 2 month+ timeframe. Noone will tell you
that though because nobody can predict the future. It's all about
the right now right this second culture that I am not a fan of.
If you're looking to make quick profit on BTC, you might have to wait.
It looks to me like it is forming an ascending bearish wedge.
This being said, look to my prior idea for price targets. I believe we
will hold this time overall, but time is running out if BTC is to grow.
From here on out we would need a pretty massive breakout or a few
smaller size ones to go Bullish again. Only a break above around
$9,200 is a bullish sign at this point.
