Hey everyone just a quick update on BTC/USD
After calling the H&S I went into Tether. Been sitting this out and monitoring the daily and 4hr.
The FUD is obviously taking it's toll. Personally, I'm not trying to catch a falling knife and am waiting for a confirmed bounce that doesn't show a bear flag.
That being said, $8k is a very strong area so I'm scaling in from $7.8-8k.
RSI on the daily is at 42 and historically, we've bounced off the 30 or slighly below it.
Also, if it somehow finds support earlier I'll still be happy with that but I'm waiting for a bounce and for the EMA's to catch up.
I could be wrong but we shall see. Good luck out there.
After calling the H&S I went into Tether. Been sitting this out and monitoring the daily and 4hr.
The FUD is obviously taking it's toll. Personally, I'm not trying to catch a falling knife and am waiting for a confirmed bounce that doesn't show a bear flag.
That being said, $8k is a very strong area so I'm scaling in from $7.8-8k.
RSI on the daily is at 42 and historically, we've bounced off the 30 or slighly below it.
Also, if it somehow finds support earlier I'll still be happy with that but I'm waiting for a bounce and for the EMA's to catch up.
I could be wrong but we shall see. Good luck out there.