BTC - Taking Control - Your Feelings of Insecurity

Bitcoin and the markets in general seem to be in no-man's land. What we need to see is the bulls or the bears take control. Maybe it is just all the challenges globally that are weighing in on the markets but either way someone needs to take control.

With Bitcoin the bulls need to see 62k taken out. They do this I think this will lead to a strong rally back to retest the prior highs. Like to see a close above and a take out of the high for this to happen.

The bears are not out of it yet. They need to take out 58k to trigger some stops that may result in capitulation back to retest the lows.

What happens here is anyone's guess, but I am positioning long here! Why? Well just too much of a feeling insecure, too cautious, just that feeling that maybe there is more downside. Well sure that can happen, but not generally when the market is feeling insecure or scared.

Large moves either need a major event like Covid, or when the market players are content in what is going on around them. I really do not feel to content do you?

This leads to taking control of your emotions and doing the opposite of what you feel. Look at the chart, look at order flow numbers and pivot points. Stick to the facts and take control of those emotions.

The market can do anything, however it is most important to take control of your emotions, or the market will take control of you.

Good luck, looking for longs in the markets and will be posting some trades hopefully if the market collaborates!