Reasons NOT to Enter....Yet
1. If this wasn't BTC you'd wait longer
2. No clear indication of Up-Trend continuation
3. We can still fall to the TL
4. Most Technical Indicators suggesting more depreciation
5. Elon Musk is tweeting
6. No clear signs of buyer pressure
7. Haven't retest broken structure at ATH.
If you can find multiple reasons as to why you shouldn't enter a trade. It may be best you don't, even if you miss a move. You can always find a new trade, but you wont get second chance on a loss.
Ideally, it'd be best to re-test the trendline, however we seem to have good support at the 50% area, which was also the strong point on the last swing. In both swings, price seems to neglect the 61.8% level.
Check comments for my previous analyses. Leave a like and comment! I'd like to hear your thoughts!
1. If this wasn't BTC you'd wait longer
2. No clear indication of Up-Trend continuation
3. We can still fall to the TL
4. Most Technical Indicators suggesting more depreciation
5. Elon Musk is tweeting
6. No clear signs of buyer pressure
7. Haven't retest broken structure at ATH.
If you can find multiple reasons as to why you shouldn't enter a trade. It may be best you don't, even if you miss a move. You can always find a new trade, but you wont get second chance on a loss.
Ideally, it'd be best to re-test the trendline, however we seem to have good support at the 50% area, which was also the strong point on the last swing. In both swings, price seems to neglect the 61.8% level.
Check comments for my previous analyses. Leave a like and comment! I'd like to hear your thoughts!
Note
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Related publications
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.