Was that the best of times? Is this the worst of times?
Hi Crypto lovers,
It's been a long time.
At this point, we all have the same question in our minds. Should we scare?
The answer is clearly Yes!
Unlike most people, I believe scaring is a good thing for crypto traders.
It makes us more aware of the risks and makes our minds sharper!
Let's cut the bullshit and look at the chart.
After BTC broke up the 20k, we had new ATHs in every week.
Last month, we had a short term correction, then the price almost reached to 60k.
The yellow trend line on my chart is based on that correction.
When the candles touch that line, the price will meet with the MA50 as well.
Breaking that line down will mean breaking MA50 at the same time.
Will that trend line work again? (I don't think but..) We will see.
If it breaks down the yellow trendline, we had a red one below.
As you see, the red trendline has a bigger range.
The candles may meet with this trendline at around 37k where I also have a resistence. Upps!
Where will it stop?
Idk, but I can give you my resistances.
1.Resistance: $ 37,000
2.Resistance: $ 32,000
3.Resistance: $ 24,000
4.Resistance: $ 18,000
I know it looks like a huge range up to down but I beleive that every possibility is on the table right now.
As a last word: I beleive that the best asset is your own strategy for now. Stick your trading rules more then ever and think again about the importence of money management. ✌️
Happy Trading! ☺️✌️😊
What do you think? Any comment? 👇👇👇
It's been a long time.
At this point, we all have the same question in our minds. Should we scare?
The answer is clearly Yes!
Unlike most people, I believe scaring is a good thing for crypto traders.
It makes us more aware of the risks and makes our minds sharper!
Let's cut the bullshit and look at the chart.
After BTC broke up the 20k, we had new ATHs in every week.
Last month, we had a short term correction, then the price almost reached to 60k.
The yellow trend line on my chart is based on that correction.
When the candles touch that line, the price will meet with the MA50 as well.
Breaking that line down will mean breaking MA50 at the same time.
Will that trend line work again? (I don't think but..) We will see.
If it breaks down the yellow trendline, we had a red one below.
As you see, the red trendline has a bigger range.
The candles may meet with this trendline at around 37k where I also have a resistence. Upps!
Where will it stop?
Idk, but I can give you my resistances.
1.Resistance: $ 37,000
2.Resistance: $ 32,000
3.Resistance: $ 24,000
4.Resistance: $ 18,000
I know it looks like a huge range up to down but I beleive that every possibility is on the table right now.
As a last word: I beleive that the best asset is your own strategy for now. Stick your trading rules more then ever and think again about the importence of money management. ✌️
Happy Trading! ☺️✌️😊
What do you think? Any comment? 👇👇👇
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.