This movement we saw going in to Memorial Day Weekend doesn't give me confidence in the market reversing out of this corrective movement. There are many factors that make me think this is just a breather before we see more down trend. I will need to see more levels shattered before I see a clear uptrend. For now, I'm just playing the directional momentum, and...
Looking at ETHUSDT and TOTAL. The patterns are telling me that the Crypto market is going to go in to a Bearish trend or sideways consolidation period through the rest of the year, if not longer. I am definitely a believer in crypto currency, but for me, now isn't the time to buy...in my opinion. I'm going to keep an eye out for opportunities, but not going heavy....
Quick TA on BTCUSDT. Price needs to break above key levels before I'm bullish on it again. Looking at the bigger picture on the weekly chart. This recent run up was just part of the bigger flag formation. If price stays in this pattern, it could be late 2022 before we see the next rip up. If price breaks the pattern sooner....we would want to see it happen VERY...
BTC is respecting some historical retracement lines. RSI has been on a downtrend for some time. Accumulate or buy on the lows, for profit taking on these peaks, until the RSI returns to a Bullish trend in the coming months. Crypto is being traded 24/7 by bots, they are following trends and technicals, plane and simple. Learn to play the game. I’m more than happy...
