BTCUSD - Still have time to play alt coins!

Note: this idea is extremely time constrained and may be irrelevant by time you read it.

1 hour just closed with a doji candlestick! We still have time to play alts as long as BTC is carefully watched.

• + Closed right on the 38.20% retracement (peak is drawn from $11185.10)
  
  
• + Jumped speed resistance fans like it was made for puppies
  
  
• + BTC can definitely drop a few dollars and ride the fan line, no $100 drop (yet)
  
  
• - RSI has flattened out
  
  
• - Price stagnation and a bad candle close can lead to a big dump (or a pump but it looks bearish as of posting)
  
  
• +/- Inside main trend channel. Good because we're safe, but we may hit the bottom of it if support fails.
  
  
• - Extreme divergence from the two moving averages. Usually when this happens we're bound for a correction.
  
  
• - Buy volume lacking
  

Stay safe out there!

评论:

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Unexpected bullish conditions. Personally I have closed all trades and am sitting in BTC/USDT. There is more to be lost than gained at this time, in my opinion.