Seeing a after small breakout from pattern on 4h chart.
shows control but not convinced this is a true buyers market yet. Pattern of trade sees too systematic or robotic (i.e. bot, whales?).
Either way waiting for retrace to 10.3k for a nice support and prime to break 12k wall. My target will likely be just under at 11.9k.
Will return if it breaks 12250 since this would complete a head & shoulder on the , or pattern on the 6h chart leading to retrace back to 17.5k+
I wouldn't be surprise if btc breaks 10k support, altcoins could start to take a lead on gains. Similar to price action leading up to december & january.
I'll be looking out for XRP & Coinbase CEO on Fast Money this week. I'd be shocked if they announce something but buying the rumors to sell you the news :P
Interesting that news of Germany's tax pseudo-exemption on cryptocurrency as a means of trade didn't have a huge impact on market. But lets see if others follow after the G summit with other EU nations next quarter.
If it breaks 12,250 then I will likely enter. But I'm more hoping for a 10.8k entry so that it can build some buy pressure to overcome the 12k wall.
A wider channel than the original channel I posted about earlier this month is in play but I won't be using that as my playing field until a proper retracement / breakout.
I had my stop lost set to take short strategy which it has done already. I bought back in at 8.4k with a 15% gain from trading the BTC to alt coin back when it was at 11.4k.
Waiting on better support but I would not be surprised if a rally begins this week. I will post new TA if signal is provided.