BTC: Is It About That Time To Short Good'oL Faithful ?
My Fellow Crypto Traders,
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Cheers & Happy Trading!
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ANALYSIS:
BTC has gone on one hell of a run in which BTC needs a healthy correction to set some support before reclaiming the previous all-time high. Thus, we are seeing the RSI & the Wave Trend indicating that BTC is far surpassed the overbought tolerance levels for an overextended amount of time. Therefore, a short could be in play @ the mid $16.0k levels & the mid $17.0K levels. BTC previously had some light resistance at the mid $17.0K region during the 2017 bull run So, if you are in a recent long position around that time, I would for sure keep in eye out around that region for any "PRE-ALT High Dumps".
Also, keep in mind the selling pressure @ the $20.0K levels. It may be a good time to diverse into some Alts if Orange Faithful decideds to correct heavy @ $20.0K
And for my unseasoned traders, don't forget, BTFD now vs's trying to FOMO! I have learned that the hard way a few times.
Appreciate you taking the time to view my analysis in which I hope you may find beneficial. Please be sure to “LIKE” if you indeed find my analysis useful and/or find my analysis intriguing.
Cheers & Happy Trading!
----------------------------------------------------------------------------------------------------------------------------------------------------
ANALYSIS:
BTC has gone on one hell of a run in which BTC needs a healthy correction to set some support before reclaiming the previous all-time high. Thus, we are seeing the RSI & the Wave Trend indicating that BTC is far surpassed the overbought tolerance levels for an overextended amount of time. Therefore, a short could be in play @ the mid $16.0k levels & the mid $17.0K levels. BTC previously had some light resistance at the mid $17.0K region during the 2017 bull run So, if you are in a recent long position around that time, I would for sure keep in eye out around that region for any "PRE-ALT High Dumps".
Also, keep in mind the selling pressure @ the $20.0K levels. It may be a good time to diverse into some Alts if Orange Faithful decideds to correct heavy @ $20.0K
And for my unseasoned traders, don't forget, BTFD now vs's trying to FOMO! I have learned that the hard way a few times.