BTC Near Term Simple Levels/Plan - Don't be Complacent
BTC indecisive. The big traders are either extremely bearish or extremely bullish right now.
BTC Controls alts movement. They rise faster and drop faster. Recommend paring down a bit and watching that 8500 top of wedge level. Then see what BTC will do and either buy back for more rise or pare down more and wait to buy the dip.
We don't have a crystal ball, but can be prepared.
It is Friday which over the last several weeks has been a big buying day. People get off work and want them some BTCs. Could for real go either way, though, so I have made a plan just in case.
Elliott Waves: We are either on middle wave 5 or end of correction wave A. It's more of an opinion than science, so I prefer to see what happens. We've been in a strong bear market, so don't get complacent.
BTC Controls alts movement. They rise faster and drop faster. Recommend paring down a bit and watching that 8500 top of wedge level. Then see what BTC will do and either buy back for more rise or pare down more and wait to buy the dip.
We don't have a crystal ball, but can be prepared.
It is Friday which over the last several weeks has been a big buying day. People get off work and want them some BTCs. Could for real go either way, though, so I have made a plan just in case.
Elliott Waves: We are either on middle wave 5 or end of correction wave A. It's more of an opinion than science, so I prefer to see what happens. We've been in a strong bear market, so don't get complacent.
Comment:
It appears to be currently trying to break out of the wedge to the upside on higher volume. So I believe we are moving up. Bought in and watching for further movement.
Comment:
Update 2 : The breakout is looking kind of lame. Going to pare back and wait it out.
Update, channel top could be between 8.5 and 9k. Still want to watch those levels and evaluate when we hit resistance.