As someone who lives in a state where you cant short BTC, this opinion Im about to share makes me a little sad.
-BTC is in a large descending triangle, The highs are getting lower and the lows are staying the same. This signals more downward pressure than upwards and is bearish.
-A large head and shoulders pattern is forming right now and after another couple days of uptrend, If we see a break of the higher lows(uptrend) then the Head and shoulders pattern is likely to complete.
These two things, along with many other small factors, point bearish. I could be wrong but here is how im trading it:
-I Down Cost averaged into my buys that are all in the green now
- I have stop losses set at the higher lows that are forming on the alts, and in BTC I have it set atlittle bit below that due to its crazy wicks that form.
-BTC is in a large descending triangle, The highs are getting lower and the lows are staying the same. This signals more downward pressure than upwards and is bearish.
-A large head and shoulders pattern is forming right now and after another couple days of uptrend, If we see a break of the higher lows(uptrend) then the Head and shoulders pattern is likely to complete.
These two things, along with many other small factors, point bearish. I could be wrong but here is how im trading it:
-I Down Cost averaged into my buys that are all in the green now
- I have stop losses set at the higher lows that are forming on the alts, and in BTC I have it set atlittle bit below that due to its crazy wicks that form.