$BTC
$BTC Generally we are Bullish, its normal when BTC see over 5% profits in a straight 24hrs, we do normally have a small Retracement or Quick retest to some major support level before shooting upward and continue the Rally, This is Subject to the Support Standing and not Fallen.
As visible on the 1HR the Double Bottom which gave Rise to the Reversal and Uptrend has its Local Resistance Broken, which might just be a slight retest at the $46720 Support, If we bounced back with a confirm bullish Candle then The trend will continue, if Not , its likely we are going to have a complete formation of "Inverse Neck and Shoulder".
This Formation should be completed at between 46299 and 45398 region, and a Retest back to the Local Resistance at 47202, should continue, failure for the formation to stop its completion at those range could yet spell a New Bearish FUD...
So right Now either close Your trades or 50% of them now and wait for either the complete formation of the neck or breakout of the Local resistance before Considering a Long Entry.
@Coincheff
DISCLAIMER: This is Not Financial Advise, Just the Thought and personal opinion of the writer and should be Used for Entertainment and Educational Purposes.
$BTC Generally we are Bullish, its normal when BTC see over 5% profits in a straight 24hrs, we do normally have a small Retracement or Quick retest to some major support level before shooting upward and continue the Rally, This is Subject to the Support Standing and not Fallen.
As visible on the 1HR the Double Bottom which gave Rise to the Reversal and Uptrend has its Local Resistance Broken, which might just be a slight retest at the $46720 Support, If we bounced back with a confirm bullish Candle then The trend will continue, if Not , its likely we are going to have a complete formation of "Inverse Neck and Shoulder".
This Formation should be completed at between 46299 and 45398 region, and a Retest back to the Local Resistance at 47202, should continue, failure for the formation to stop its completion at those range could yet spell a New Bearish FUD...
So right Now either close Your trades or 50% of them now and wait for either the complete formation of the neck or breakout of the Local resistance before Considering a Long Entry.
@Coincheff
DISCLAIMER: This is Not Financial Advise, Just the Thought and personal opinion of the writer and should be Used for Entertainment and Educational Purposes.
$BTC
STATE OF THE MARKET
$BTC Generally we are Bullish, its normal when BTC see over 5% profits in a straight 24hrs, we do normally have a small Retracement or Quick retest to some major support level before shooting upward and continue the Rally, This is Subject to the Support Standing and not Fallen.
As visible on the 1HR the Double Bottom which gave Rise to the Reversal and Uptrend has its Local Resistance Broken,which might just be a slight retest at the $46720 Support, If we bounced back with a confirm bullish Candle then The trend will continue, if Not , its likely we are going to have a complete formation of "TRIPPLE BOTTOM".
This Formation should start between 46299 , and complete around 45398 44500region, and a Retest back to the Local Resistance at 47202, should continue, failure for the formation to stop at those range could yet spell a New Bearish FUD...
The Chance of it going so down to the 44500 Region is not feasible, so its likely we go up