BTCUSD - Market Collapsing! Just kidding; still on track.
We are experiencing volatility. That said, looking at the weekly charts helps keep it in perspective that the bull run is still on track. If you are looking for shorter term trading ideas... 11,500 is strong resistance right now. Below that, we'd likely test 10,400 and/or 9,600 again. Then bounce back up. I'm not one of these people that thinks we will retest below 9,600. I don't think we'll make it that far either. Myself, I'm holding long for the moment.
We are still consolidating to the right of the channel. Based on the bull run since the start of this year, we go right, hit the channel, run up, hit the top, experience high volatility while we consolidate to the right of the channel again, then move up. Moving to the right of the channel at the moment for another week or so before the larger run to 17k begins. My chart is in Log form, so the higher we go, the more volatile the swings are going to be during the consolidation periods. It also means that while it appears to be a steady growth path, the higher we go the larger the % gains are. Keep calm while we are still in this channel and don't lose your bitcoins!
The good news is, strap yourself in because we are going to moon!
Don't trade based on my stupid opinions.
Thank you.
We are still consolidating to the right of the channel. Based on the bull run since the start of this year, we go right, hit the channel, run up, hit the top, experience high volatility while we consolidate to the right of the channel again, then move up. Moving to the right of the channel at the moment for another week or so before the larger run to 17k begins. My chart is in Log form, so the higher we go, the more volatile the swings are going to be during the consolidation periods. It also means that while it appears to be a steady growth path, the higher we go the larger the % gains are. Keep calm while we are still in this channel and don't lose your bitcoins!
The good news is, strap yourself in because we are going to moon!
Don't trade based on my stupid opinions.
Thank you.
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