Bias is to the upside. Bitcoin.
Updated
I'll keep it simple. I am still long since 9,800 and have been holding since the golden cross has played out.
We hit our first resistance on the 2-Day time frame around 12.2k - 12.5k. The second resistance if we break above 12.2k with a candle close/open is the local high for BTC around 12.5 - 13k.
The blue box is the next target I am looking at to possible add a hedge to lock in my profits and wait for trend continuation.
To everyone who think this is bearish, price action is showing otherwise. We had massive 1k dump from 12.3k to 11.2k and yet, there's no follow through. This is a signature of bulls stepping in and just slowly crawling its way back up to break resistance.
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If we close and open a candle below the 4HR, 21 EMA or bottom of the triangle. That implies BTC wants to consolidate lower, but at this point-in-time, the dips are getting bought up.
We hit our first resistance on the 2-Day time frame around 12.2k - 12.5k. The second resistance if we break above 12.2k with a candle close/open is the local high for BTC around 12.5 - 13k.
The blue box is the next target I am looking at to possible add a hedge to lock in my profits and wait for trend continuation.
To everyone who think this is bearish, price action is showing otherwise. We had massive 1k dump from 12.3k to 11.2k and yet, there's no follow through. This is a signature of bulls stepping in and just slowly crawling its way back up to break resistance.
-------
If we close and open a candle below the 4HR, 21 EMA or bottom of the triangle. That implies BTC wants to consolidate lower, but at this point-in-time, the dips are getting bought up.
Note
I hate to do this, but I plan on holding my positions and hedging against market down turn.imgur.com/TsJVNmM
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