If Bulls get control and the wounded bears from Dow join in, who know where this thing could go .
Trade active:
ATH. Bitcoin . Thanks to Elon Musk after Tesla's 1.5 Billion investment . Their was some hesitation to break the previous ATH which was expected . Now price is a smidge away from 48482.19 Resistance. Lets just say it's in the Zone : )
Comment:
W3 reached and W4 . It may just bounce around in this area consolidating for the next move. Bitcoin dominance chart shows a double top and bounce. We may see Alts make a break for it at this stage if we are following cycles. Already they have had a good run . We will just have to wait and see .
Comment:
I do believe we maybe in a complex wave 4 at the moment . No need to be to concerned as yet. It may bounce around inside this channel until it reaches the low trend line at 43,000 we should be okay to go. A very important FOMC meeting comes up on the 16 March where monetary policy will be discussed . It is highly likely they will discuss Cryptocurrencies and ramp up the pressure to finalize on legislation with SEC and other manipulators.... Stay tuned.
Comment:
BTC having a hard time trying to break resistance at 52,000. Possible scenario's are : 1 We may see price consolidate in this zone for a few days up even up to the 16 march.
2. Price puts pressure on support and breaks through to the 41-42,000 consolidates on the lower trend line then moon shots.
3. Tesla buys more .
4. Bears come back in force and take price through the lower trend line.
Either way no stress to us , we have only opened with a fraction of our portfolio , we know the inherent risk and reward . We just sit back with tea and biscuits and look for other opportunities while this one bakes .
2. Price puts pressure on support and breaks through to the 41-42,000 consolidates on the lower trend line then moon shots.
3. Tesla buys more .
4. Bears come back in force and take price through the lower trend line.
Either way no stress to us , we have only opened with a fraction of our portfolio , we know the inherent risk and reward . We just sit back with tea and biscuits and look for other opportunities while this one bakes .
Comment:
There we go . Straight up through the roof , that's Bitcoin for you.
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I do believe we are in a correction on Bitcoin over the next few days . FOMC meeting may stir things up a bit so let's be alert and not alarmed.
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Still waiting for Wave 5 to come into play. This could be the final leg up before we start seeing major corrections, and it could be a very volatile ride ... HANG ON
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Guys. If the price fails to hold @ 53,000, we could see a larger correction to the orange zone 47,000. I'm still bullish on the macro. I'll keep you posted.
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Call me crazy and slap me, but I just purchased more BTC at 48200 on the green line with limit order. This is not trading advice, it's highly risky, and I do not know your risk profile, what system you are using, and I could be completely wrong considering BTC price has dropped under to 50 EMA on the daily since who knows when. BTC options traders are in for settling around 80,000 by April 30, so we could, that is COULD see a move to the upside. I am seeing much green on the Macro.
