BTCUSD - Welcome to the Jungle
Updated
Let's keep it simple: there's a lot of resistance we need to break past in order to actually break up. Even still, looking downwards for an easy path is not certain either. If Bitcoin can survive the declaration and act of sudden war of a large country and economic powerhouse such as Russia, can we even trust that it will break downwards?!
The path is not clear, other than the fact that the path will be painful. Still, let's make the best of it. Good luck out there.
The path is not clear, other than the fact that the path will be painful. Still, let's make the best of it. Good luck out there.
Note
Looks like we went in the bullish direction! We've already gotten the first resistance and retest so far. I sold at resistance and have already bought at this potential support level. Reason I am buying at this time is because BTC has been fundamentally bullish for quite some time now, and it definitely seems like the momentum has not quite swayed in the bearish direction.I expect a long consolidation toward the upside.
Note
Man, I was right about the pain. At this rate, it looks like we may test 35-36k soon. If we test the support line later, though, it could be as high as where we are now, at 38k. Wonder if testing this line will be more bearish than bullish, though? I still can't believe markets have been this fearful for this long without a capitulation or a short squeeze. What's happening?
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