Welcome to my daily market update (13/05/20):
So after the halving celebration (CONGRATULATION!) what is next? no one really knows, but my speculation is that the celebration is over, we can sell our begs and walk home...
I'm joking, well partially, why? because there is no more real Fomo to stay, the narrative is over. what another reason for whales to hold this price? we might see a lot of pressure to close at-least this gap (or just fake outs until we see big oversold candles and panic again).
For now, the smart thing to do for the mid-term is to stay bullish
- Daily bullish engulfing:
- Ascending triangle at end of fall - bullish.
- Should we close above 4h e21 it should bring strong momentum to close above the triangle, which means we should at-least test the cloud.
* failing to break up this triangle might actually show continuation of the trend downwards, going below 8585 again from my perspective will go much much deeper towards 7725.
As usual, my bigger picture is shorts, did good profits with that. lets see how it goes, but for you plebs? the smarter thing to do is longing this out.
So after the halving celebration (CONGRATULATION!) what is next? no one really knows, but my speculation is that the celebration is over, we can sell our begs and walk home...
I'm joking, well partially, why? because there is no more real Fomo to stay, the narrative is over. what another reason for whales to hold this price? we might see a lot of pressure to close at-least this gap (or just fake outs until we see big oversold candles and panic again).
For now, the smart thing to do for the mid-term is to stay bullish
- Daily bullish engulfing:
- Should we close above 4h e21 it should bring strong momentum to close above the triangle, which means we should at-least test the cloud.
* failing to break up this triangle might actually show continuation of the trend downwards, going below 8585 again from my perspective will go much much deeper towards 7725.
As usual, my bigger picture is shorts, did good profits with that. lets see how it goes, but for you plebs? the smarter thing to do is longing this out.
