- Market structure has changed. Doesn't seem like bull run is confirmed yet. May lurch sideways or range for months.
- BTC must break 11.5-12.7k region, flip resistance to support, to anchor in proper bullrun.
- Recent action shows 7.5k is crucial level. Historical (2016) data shows 40% retrace from local top for recovery rallies.
- Would look to build position if BTC dips to 9 to 7.5k area. If BTC breaks 11.5k and firmly flips this to support, would also look to build position provided it's confirmed.
- Possible alts will have some momentum in coming months. BNB as well as some of the 'big, dumb favourites' would be worth a small position with a tight stop loss.
Note to the reader:
I have been trading since mid 2017 and have seen and done it all in crypto trading. No longer interested in TA or short term price action, only looking to catch the long term Chad trends. There's more to life than gambling ;)
Not financial advice or entertainment.
You have got to love the fact that it literally bounced directly OFF my buy zone.
Almost like BTC wants me to know I am an idiot!!
Respect the CoRn