So this is what happens when you hem and haw and sit on your hands and wait like an idiot to buy in. -25% Down on BTC over the last week. If you sat on your ass and engaged in hand-wringing while watching the thing go up 10x before you decided to buy, you get -25% on your investment, and you deserve it. Also I am almost willing to bet that aside from short interest who are making smart, leveraged bets to the downside, a lot of people that bought recently are going to or have bailed on their losing positions. You -----redacted/explicit---- have no one to blame but yourselves for hemming and hawing for the last 3 years before buying in just recently. I like Elon Musk, but to be honest, even he should have bought at the worst, six months ago.
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Can't say it is time to relax, but if this is a relief rally, it's looking more bullish than any set of candles we've seen in the last 2 days.See how it goes, but these are good buy levels for anyone wishing to add or to start a position.
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Another comment, if there is too much run up after this solid showing of support, expect it to be retested if CME gaps result. Odd how gaps to the upside are of little concern, but gaps to the downside must always be filled.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.