Sorry I went AWOL, I had the sickness that shall not be named for a while. Feeling better now.
I am adding 1 BTC onto my BTC position. I have had this position open in a cross margined account for over a week now. This is going to be a long play for me, not worrying about the fees for now.
Fundamentally, I've rarely seen BTC move in such a consolidated manner for so long. Not sure if it's just the holidays / end of the year or a mixture of that + the FTX fallout, but waters are far too calm and I'm on high alert.
Technically, we just broke underneath our Keltner Channel and are looking to enter back into the channel, a sign of a reversal.
We're currently in a descending channel and are far away from our Ichimoku Cloud of resistance on the 4-hour. I believe we'll retest this over the coming days.
I also believe we'll retest the 200-day EMA and the major area of resistance I've marked with a red box.
More updates soon.
I am adding 1 BTC onto my BTC position. I have had this position open in a cross margined account for over a week now. This is going to be a long play for me, not worrying about the fees for now.
Fundamentally, I've rarely seen BTC move in such a consolidated manner for so long. Not sure if it's just the holidays / end of the year or a mixture of that + the FTX fallout, but waters are far too calm and I'm on high alert.
Technically, we just broke underneath our Keltner Channel and are looking to enter back into the channel, a sign of a reversal.
We're currently in a descending channel and are far away from our Ichimoku Cloud of resistance on the 4-hour. I believe we'll retest this over the coming days.
I also believe we'll retest the 200-day EMA and the major area of resistance I've marked with a red box.
More updates soon.
