General overview over Bitcoin VIA Bitstamp
We are seeing a correction to decompress technical indicators... it was up to the 21 EMA which coincided with the Fibo zone 38.2. Excellent.
The price is going with a very steep bullish trendline that is going to break out at some point. As long as price keeps with it, let the party continue.
Once it breaks? If it is Before March 15, the area to search is the one that was tested today.
After the 15? To the old bullish tRendline that we already came with. A bounce there gives you a new purchase and keep enjoying. If it breaks, we return to the old bullish channel. So far so good, BTC at 100k ...
In case it comes strong... fucked up... and the old bullish channel breaks, we have congestion areas marked in the graph where we should see at least some rebounds.
Technical analysis should not be guessing the future. It should be a way of analyzing different outcomes and preparing ourselves to react to them.
Good trades everyone!
The price is going with a very steep bullish trendline that is going to break out at some point. As long as price keeps with it, let the party continue.
Once it breaks? If it is Before March 15, the area to search is the one that was tested today.
After the 15? To the old bullish tRendline that we already came with. A bounce there gives you a new purchase and keep enjoying. If it breaks, we return to the old bullish channel. So far so good, BTC at 100k ...
In case it comes strong... fucked up... and the old bullish channel breaks, we have congestion areas marked in the graph where we should see at least some rebounds.
Technical analysis should not be guessing the future. It should be a way of analyzing different outcomes and preparing ourselves to react to them.
Good trades everyone!
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