BTC Buy Orders and Resistance Zones
Hey folks,
Here is a simple little chart analysis I did for BTC over the last couple of days.
Obviously with the good news that happened with government the other day helped for a nice rally, but as you can see, it hit the "Buy Order" zone that I have dating back to the first big rally up before most of the Thanksgiving and Xmas newbies got into crypto.
The dip was due to some bad news, and the newbies sold out for a loss while the holders and stronger folks that are in it for the long haul back back in at a discount around 6K.
You will notice the next two zones that I have posted on the chart. These zones may be tough to break through, but here is my reasoning to why it will break through, maybe not this week, maybe not this month, but in time it will: Aforementioned newbies will jump back in (b/c they still have their account info handy) and will drive the price up further through those zones as they see the price surging up. Then- TRUE newbies will enter and place buy orders, while us holders will have profits to be made if you want to take them.
As always, this is just my opinion, I am NOT a financial advisor and this chart is just my thoughts in this Crazy Cripto World and for your entertainment.
Let's hear your thoughts- good or bad- and discuss!!
Here is a simple little chart analysis I did for BTC over the last couple of days.
Obviously with the good news that happened with government the other day helped for a nice rally, but as you can see, it hit the "Buy Order" zone that I have dating back to the first big rally up before most of the Thanksgiving and Xmas newbies got into crypto.
The dip was due to some bad news, and the newbies sold out for a loss while the holders and stronger folks that are in it for the long haul back back in at a discount around 6K.
You will notice the next two zones that I have posted on the chart. These zones may be tough to break through, but here is my reasoning to why it will break through, maybe not this week, maybe not this month, but in time it will: Aforementioned newbies will jump back in (b/c they still have their account info handy) and will drive the price up further through those zones as they see the price surging up. Then- TRUE newbies will enter and place buy orders, while us holders will have profits to be made if you want to take them.
As always, this is just my opinion, I am NOT a financial advisor and this chart is just my thoughts in this Crazy Cripto World and for your entertainment.
Let's hear your thoughts- good or bad- and discuss!!
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