BitcoinLong
Bitcoin falling wedge breakout or fakeout?
Looks like a back test of the falling wedge structure I drew yesterday on the 4h00 chart zoomed in on the 15 minute chart. A lot of confluence of support in this zone and at this particular time: trendline starting from the bottom of the last bear market, previous support in pivot area during bull run. Bottom of big descending channel from January 2020 high. Indicators flashing never seen before oversold signals on the monthly timeframe. Bullish divergences on most risk-on assets, bearish divergences on the DXY and USOIL.
Just like last summer, we might see a pump when people least expect it. Probably followed by another dump in august/sep and another pump towards the end of the year like most mid term election years.
I advise people to buy BTC with their own money and not on leverage. This is how you can hodl through adversity with peace of mind and not worry about flash wicks down on smaller time frames. Trying to catch falling knives is never easy, but it can yield great reward. This is why you should only use a small portion of your liquidity at once, and have other, lower targets in mind in case it goes there. Always be prepared for all scenarios, and only gamble/invest money you can afford/stomach to lose.
Just like last summer, we might see a pump when people least expect it. Probably followed by another dump in august/sep and another pump towards the end of the year like most mid term election years.
I advise people to buy BTC with their own money and not on leverage. This is how you can hodl through adversity with peace of mind and not worry about flash wicks down on smaller time frames. Trying to catch falling knives is never easy, but it can yield great reward. This is why you should only use a small portion of your liquidity at once, and have other, lower targets in mind in case it goes there. Always be prepared for all scenarios, and only gamble/invest money you can afford/stomach to lose.
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