Hello there,
it´s been a while since the last Bitcoin update. After we have broken the last massive Resistance Cluster around the Yearly Pivot ($8137 and P-Q also) and leaving behind the former
corrective downtrend parallelchannel, we are now slowly reaching areas, that are significant again for Bitcoin´s further development this year.
Fired also by many external factors, Bitcoin could be pumping up to the resistance of the well-known major triangle, before next decision point is meeting the next battle between fear & greed.
Just to mention a break out now instead of testing the support leadline again, could be seen as absolutely pre-mature, hopefully not ending in a fake-out and decline.
Patience is key. This ride has been initiated by the inverted Head & Shoulders as bottom pattern at the lower end of the former parallel downtrend-channel.
Also Bitcoin has finalized the End-to-End (Ichi-Cloud) whilst now turning it into bullish favours. Can this be tested again? Certainly.
To make sure you are aware of possibilities here (assuming you like to trail stops and rebuy lower) I have as usual tried to mark anything important to help you making your own decisions.
There are currently no major since of decline just yet, so no acute reason to dump open long positions, it´s similar to ETH and Gold, try and let it ride, if you got in early enough.
Best wishes and happy trading,
Neru
it´s been a while since the last Bitcoin update. After we have broken the last massive Resistance Cluster around the Yearly Pivot ($8137 and P-Q also) and leaving behind the former
corrective downtrend parallelchannel, we are now slowly reaching areas, that are significant again for Bitcoin´s further development this year.
Fired also by many external factors, Bitcoin could be pumping up to the resistance of the well-known major triangle, before next decision point is meeting the next battle between fear & greed.
Just to mention a break out now instead of testing the support leadline again, could be seen as absolutely pre-mature, hopefully not ending in a fake-out and decline.
Patience is key. This ride has been initiated by the inverted Head & Shoulders as bottom pattern at the lower end of the former parallel downtrend-channel.
Also Bitcoin has finalized the End-to-End (Ichi-Cloud) whilst now turning it into bullish favours. Can this be tested again? Certainly.
To make sure you are aware of possibilities here (assuming you like to trail stops and rebuy lower) I have as usual tried to mark anything important to help you making your own decisions.
There are currently no major since of decline just yet, so no acute reason to dump open long positions, it´s similar to ETH and Gold, try and let it ride, if you got in early enough.
Best wishes and happy trading,
Neru