Bitcoin is moving on up, retaking the crucial Monthly Open and now on par with previous levels lost.
The FOMO is strong but be cautious. The market is still extremely emotional, and we are only at 21 on the Fear/Greed index.
What we really need here is good consolidation and for Bitcoin to form a base and hold the Monthly Open (MO on chart)
Keep an eye on Bitcoin Dominance as well (BTC.D), if BTC subsides and ranges we can get a nice alt pump. We have already re-entered several high cap alts.
If you're going to take positions now look at swing failures with TIGHT stops, and retests or failures of key support/resistance levels.
An emotional market = a volatile one.
The FOMO is strong but be cautious. The market is still extremely emotional, and we are only at 21 on the Fear/Greed index.
What we really need here is good consolidation and for Bitcoin to form a base and hold the Monthly Open (MO on chart)
Keep an eye on Bitcoin Dominance as well (BTC.D), if BTC subsides and ranges we can get a nice alt pump. We have already re-entered several high cap alts.
If you're going to take positions now look at swing failures with TIGHT stops, and retests or failures of key support/resistance levels.
An emotional market = a volatile one.
✔️ - Trendmaster and MDX Algo Access - MDXAlgo.com
✔️ - NordVPN for those who are IP Restricted - bit.ly/NordVPNTM
✔️ - NordVPN for those who are IP Restricted - bit.ly/NordVPNTM
Disclaimer
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.
✔️ - Trendmaster and MDX Algo Access - MDXAlgo.com
✔️ - NordVPN for those who are IP Restricted - bit.ly/NordVPNTM
✔️ - NordVPN for those who are IP Restricted - bit.ly/NordVPNTM
Disclaimer
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.