I've been ending almost each of my TA posts with "Patience > FOMO " because these levels in the market are personally being perceived as "the accumulation phase" where price has likely found its bottom and is setting levels which are optimal for upping your stack.
Yesterday I was warning that, despite the sexy run-up in price, now was NOT the time to FOMO into this market.
With the overhead resistance at 4.4K and other short term resistance levels closer to 4.2K, BTC was likely to hit a wall, and it did.
Now the price has shot down to touch both the 50MA and a level of short term support at 3.8K. Being patience to see if these level can form a real level of support will be important for anyone trying to find optimal levels to accumulate considering a drop below could see a test of the 200WKMA, setting up the best potential time to enter if this is the bottom.
Patience > FOMO
Yesterday I was warning that, despite the sexy run-up in price, now was NOT the time to FOMO into this market.
With the overhead resistance at 4.4K and other short term resistance levels closer to 4.2K, BTC was likely to hit a wall, and it did.
Now the price has shot down to touch both the 50MA and a level of short term support at 3.8K. Being patience to see if these level can form a real level of support will be important for anyone trying to find optimal levels to accumulate considering a drop below could see a test of the 200WKMA, setting up the best potential time to enter if this is the bottom.
Patience > FOMO