BitcoinUpdated Medium Term Price Action.
Imo, zooming out to the daily the current bitcoin PA is a bit concerning. Although I am personally holding large bags from 10k where I bought agressivley I must accept that for now things remain in a neutral to downward posture. If Bitcoin can gain momentum above the uptrending purple S/R line my hopes will lift. I am bullish on bitcoin long term but current PA makes me believe we might have a long and cold christmas break ahead. Tradionally bitcoin has made large moves in the fall/winter season and I am personally hoping we reasume our bullish ways very soon. For now I must remain neutral.
Red Boar
Red Boar
Note
If this was the only chart you had traded since the start of november you would be in heavy profit. Sometimes simpler is better...GGNote
Very happy with how this has played...a breakdown into fud area at this point is unlikely but I would heavily long. all the best
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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.