BTC/USD - Bouncing?
Updated
Bitcoin appears to have bounced EXACTLY AS PREDICTED on the side-wards support! That's good stuff... But doesn't mean a lot if some factors don't come into play.
- Bitcoin did just hit the massive converging moving average resistance above, and needs to break and retest that to confirm the bounce actually worked before this qualifies as a successful analysis
- The candle before was a huge red one, so the bounce isn't majorly exciting, it's just something to take heed of.
- Just because it bounced that does NOT mean buy. No point jumping in early and facing these obstacles... Just wait, watch a movie, sit on your hands, something...
Where do YOU think price is headed? Leave a comment with a chart and let's share our thoughts!
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Thank you for your support.
- Bitcoin did just hit the massive converging moving average resistance above, and needs to break and retest that to confirm the bounce actually worked before this qualifies as a successful analysis
- The candle before was a huge red one, so the bounce isn't majorly exciting, it's just something to take heed of.
- Just because it bounced that does NOT mean buy. No point jumping in early and facing these obstacles... Just wait, watch a movie, sit on your hands, something...
Where do YOU think price is headed? Leave a comment with a chart and let's share our thoughts!
I never ask anything from my supporters, but I do have a small favour to ask of you guys... If you see comments in the comments section that are trolling/insulting to me, or any other person who's contributing to the comments section, then please Flag/Report their comments right away so we can get rid of people that aren't contributing to this site in a good way. Let's work together to make this site a better place for everybody. :-)
Please leave a LIKE and FOLLOW. I'd really appreciate it.
Thank you for your support.
Note
Lovely down move! Now we know the bounce failed and we can next look to my horizontal support zone for a new buy. ;-)Please leave a LIKE. I'd really appreciate it.
Note
Still sitting on my hands, the bounce failed completely, just need to see a ride to horizontal support now.Let's all wait for that to happen and let the whales do their thing.
I figured the bounce would fail - but it's always a good thing to emphasise levels that are considered "key" levels until invalidated :-)
Please leave a LIKE. I'd really appreciate it. :-)
Thank you for your support.
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