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Hey guys,

Had a presentation dinner last night and the fully catered night got way too out of hand for me to be blogging when I got home, so here we are after a bit of a delay.

To be honest though, if I’m going to be talking crypto markets, I may as well continue to hide away in the background. They are doing nothing.

Take a look at this zoomed out daily chart:

BTC/USD Daily

That coil is just getting tighter and tighter. Lower highs and higher lows, compressing price. We’re all expecting the impending breakout to be a significant one, but in which way will it be?

I do still like the fact that horiztonal, higher time frame support hasn’t held and this slightly higher low I have marked on the intraday chart is somewhere I’ve been longing off before:

BTC/USD Hourly

So long as that is holding, I’d rather be playing from the long side, but my conviction is shot.

I just want to see this breakout move either way so I can trade with momentum. Don’t fight the wave if you don’t have to.

Peace ✌🏻.

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@forexbrokr | Steemit Blog

Forex and Crypto Market Musings.

Twitter: @forexbrokr
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