Bitcoin (BTC) - Confirmed Continuation
Time to collect my thoughts on BTC after this massive (30%+) weekly candle that broke out of the falling wedge.
I ended up closing my short at the bottom of the move (around 7.4k) on the basis of an unfavorably evolving risk-reward. It just wasn't a good idea for me to long there.
After the big move to 10.5k, I was set out to long the retest of the broken trendline, which I did at around 9030. I am very bullish on BTC and will either average down a long entry position or add to it as BTC moves higher.
I am expecting a long sideways consolidation from BTC. Still putting most of my attention on alts.
I ended up closing my short at the bottom of the move (around 7.4k) on the basis of an unfavorably evolving risk-reward. It just wasn't a good idea for me to long there.
After the big move to 10.5k, I was set out to long the retest of the broken trendline, which I did at around 9030. I am very bullish on BTC and will either average down a long entry position or add to it as BTC moves higher.
I am expecting a long sideways consolidation from BTC. Still putting most of my attention on alts.
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