TRADING AND TA - BTC (Bitcoin) - Monday March 26th
So we're looking like we are priming for a possible run for the upper channel resistance, to see if we can breakout and test 9k, but at the moment it's looking pretty likely we're going to come down and test the lower support line.
Green box is an area of prevous price action, so I'm expecting a lot of sideways movement from here for a while. I'm buying down, unless we breach 8k, we're heading to 7.5k and unfortunately the bull market is looking distant again.
The next couple of days are going to be crucial here, and there will be lots of day trading opportunities with BTC and other alts, so pucker up!
On a smaller time frame, I'm looking for a slightly truncated 5th wave, to bounce off the trend line support. This is going to be critical. Stay tuned.
yeah next few days probably gonna be some mini breakout. plus MA 50 getting really close to MA200
I agree, we're still not out of the woods yet. As a scalper and day trader I'm not too worried about the death cross, but I honestly don't see the bulls letting that happen.
If we cross that could suggest heading back down to 6k, or even worse 4k and I know no one wants that haha.
probably they gonna wait till the very last moment to show up.
If it break the next 2 level of long term trend support, 6k is likely. If it's 4k or even back to 1k there definitely ppl whose waiting to get in =)