As my previous thesis, I excepted BTC and played along the past 2 months move with win ratio of 90%. All are shown on my previous posts. Now the big question is if BTC is going to breakout the bear market channel, signifying the new bull market, or result in a head and shoulder formation such as previously anticipated.
With international geopolitical tension rising, it would be possible that BTC and crypto can set a new bull run
With international geopolitical tension rising, it would be possible that BTC and crypto can set a new bull run
Trade closed: target reached:
What a move, again right on. I have allocated some of profits on
BTC
to some ALTs.
I see quite a lot of confluence around $40k area. First and foremost a rising wedge. Secondly, strong previous supp/res area. Thirdly, psychological area. Fourthly, a significant Fibonacci resistance (0.5). Last but not least, weekly RSI starting to be in Overbought territory and could retest or stagnate around strong support area.
I think
BTC
will do a small short squeeze reaching $40K area before correcting around $30K area as there is lots of shorts building and confluence level of $40K. I am not certain yet, this is why I sold 75% of my
BTC
short-term position.
I think we will see ALTs pumping hard, especially, the ones that have had a lot of improvements and additions in terms of projects, tech, and efficiency. This is the reason on my previous post why I entered FTM which is now 130% up since.
BTC
to some ALTs. I see quite a lot of confluence around $40k area. First and foremost a rising wedge. Secondly, strong previous supp/res area. Thirdly, psychological area. Fourthly, a significant Fibonacci resistance (0.5). Last but not least, weekly RSI starting to be in Overbought territory and could retest or stagnate around strong support area.
I think
BTC
will do a small short squeeze reaching $40K area before correcting around $30K area as there is lots of shorts building and confluence level of $40K. I am not certain yet, this is why I sold 75% of my
BTC
short-term position. I think we will see ALTs pumping hard, especially, the ones that have had a lot of improvements and additions in terms of projects, tech, and efficiency. This is the reason on my previous post why I entered FTM which is now 130% up since.
Trade closed: target reached:
Just as predicted. Now I see exhaustion, a small recovery to perhaps 30-36k
Weekly RSI tells a lot
Just as predicted. Now I see exhaustion, a small recovery to perhaps 30-36k
Weekly RSI tells a lot
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