Bitcoin: A Short Term Pop?
Updated
Bitcoin and most major markets have been trending downward for several months, and we may be seeing some signs of a reversal. Ascending triangle pattern on the 4H time frame we may see a quick pump up to my daily levels at approx 58k.
Will we be able to sustain this rally or is there still more pain left?
Only time will tell...
Namaste!
Will we be able to sustain this rally or is there still more pain left?
Only time will tell...
Namaste!
Order cancelled
Trade active
I had to really think about this trade and wether or not the risk reward is worth it. Seems like the upwards trend line is being respected. I am still on the edge about going long on BTC with everything going, but I will start out with a small position with the S&P recovery today, we may finally start to see some good momentum and good news moving forward. If we break below 38k, I will likely look for some divergence to buy the dip and hopefully this correction is over!
Note
Trend lines nicely respected.
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