Daily Candles: The bounce may not be enough

in bitcoin •  11 months ago

Yesterday we had a close below the 100 day moving average and we have had 3 deep wicks below it.

On the one hand, closing below the 100D MA is bad but on the other the wicks show that there is a lot of willingness to buy around 10k.

My Plan

As previously stated I had buys around the 100D MA and some around the local low. The 100D MA ones hit while the other ones missed by by an annoyingly small amount.

The chart looks fairly bearish and I still think it is quite likely that we go down to at least 8k. But I am in the strange position that I have a small long so I hope the price goes up and I make money, but I also would like the price to fall so I can buy lower.

From this you can clearly see I am med-long term bullish on btc. Bubbles don't tend to burst until a large number buy into it.

Thanks for reading.

KevinBacon





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