my 2 satoshis on BTC

Haven't posted in a long time but felt the need to step in and give another opinion. Alot of people around me are feeding into the end of year hype. My best advice is to not believe the hype. Not saying that it can't go up....all im saying is, there are tons of indicators that point to RISKY AS HELL. just to name a few

- We are currently in a squeeze, even at moderate risk never buy during a squeeze
- 80 EMA has slid below the 200 EMA recently
- Huge support at 7600 has been broken and has turn into Major resistance.
- RSI, CCI and Stock are all still on a weekly downtrend.

Honestly....IMHO I am looking for the breakdown to my little green moneybox ($5100 - $4800) which is where I am willing to buy my next batch unless I see a definite turnaround. Until then HODL into the next year.

I am not a financial advisor nor a professional trader. Im just a guy who sometimes makes good decisions.

Comment:

BTC is trying its best to prove me wrong. It has broke above the 80 day EMA. When my Muticolored EMA line turns blue its a buy signal but in this world its not a guarantee. With the 80 just recently undercutting the 200 im a little skeptic it will not be heavily rejected at the 200. keep watching.

Comment:

BTC price is still going higher. Don't get me wrong, I am excited and as a BTC holder I want it to go to a trillion.

But im still not completely convinced. Do no forget that we can still form a lower high than our last peak in OCT. All this media bull hype can create a hard hitting bull trap.

Before I remove my bear target I need to see:
- A higher high (10500)
- The 80MA cross over the 200 MA

Comment:

The pattern seems to be unchanged so far.

Trade closed: target reached:

and folks target has been hit and purchases have been made. thank you everybody