Bitcoin is still in a bull market
Untill we fall below 9651 we have not made a lower low and I will remain bullish.
Untill we break above 13.2k I will remain in cash waiting on the sidelines.
Above 13.2k key resistance I will go long and expect to make new all time high's
On the shorter term I don't believe the people who say we go to 3k or 5k or 8k because if we correct in a bull market this needs to be treated as triangle consolidation with continuation to the upside.
Also the volume is decreasing, if it was an ABC correction we should see a huge sell-off on bigger volume. So right now I'm expecting to bounce from the bottom of the ABCDE Triangle upwards to 12.8k and then come down again.
Also notice bollinger bands are squeezing and that always happens before a big move is coming.
Stay safe and protect your capital.
Untill we fall below 9651 we have not made a lower low and I will remain bullish.
Untill we break above 13.2k I will remain in cash waiting on the sidelines.
Above 13.2k key resistance I will go long and expect to make new all time high's
On the shorter term I don't believe the people who say we go to 3k or 5k or 8k because if we correct in a bull market this needs to be treated as triangle consolidation with continuation to the upside.
Also the volume is decreasing, if it was an ABC correction we should see a huge sell-off on bigger volume. So right now I'm expecting to bounce from the bottom of the ABCDE Triangle upwards to 12.8k and then come down again.
Also notice bollinger bands are squeezing and that always happens before a big move is coming.
Stay safe and protect your capital.
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