BTCUSD - Still have time to play alt coins!
Updated
Note: this idea is extremely time constrained and may be irrelevant by time you read it.
1 hour just closed with a doji candlestick! We still have time to play alts as long as BTC is carefully watched.
Stay safe out there!
1 hour just closed with a doji candlestick! We still have time to play alts as long as BTC is carefully watched.
- + Closed right on the 38.20% retracement (peak is drawn from $11185.10)
- + Jumped speed resistance fans like it was made for puppies
- + BTC can definitely drop a few dollars and ride the fan line, no $100 drop (yet)
- - RSI has flattened out
- - Price stagnation and a bad candle close can lead to a big dump (or a pump but it looks bearish as of posting)
- +/- Inside main trend channel. Good because we're safe, but we may hit the bottom of it if support fails.
- - Extreme divergence from the two moving averages. Usually when this happens we're bound for a correction.
- - Buy volume lacking
Stay safe out there!
Note
Trade closed: target reached
Unexpected bullish conditions. Personally I have closed all trades and am sitting in BTC/USDT. There is more to be lost than gained at this time, in my opinion.
My published indicators: tradingview.com/u/NeoButane/
Sorry if I haven't replied to your message yet, I'm a bit backlogged :)
Sorry if I haven't replied to your message yet, I'm a bit backlogged :)
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