Not adding until we have open/closes above week long triangle
Look don't flame me here, nothing against BTC, but if you don't have any BTC do not be adding right now. To me RSI (overbought, though that's always the case) and MACD (these big MACD squeeze points in the past have shown before cross/retracement) are both showing potentially barish signals. Once again I'm not selling any of my bitcoin, because it's a freak and it may not matter (see past runs lol), just be careful, it's wicked above the 17.5k a couple of times yet not cracked it yet.
In addition BTC keeps hammering based on news, but that news has died down now. Futures is out of the way and there's nothing to push the masses except price action, so if that becomes negative, look out!
If it falls my re-entry levels would be 3 part, 15k (trend line), 13.5k (trend line and 21 day SMA's), 10-11k (50 day SMA and whole number support could not be broke imho). Similarly if it breaks above 17.5k and gets an open and close (4 hourly or hourly), it could very well run to 20k on euphoria alone and I will be riding that train all in!
Just be cautious if you're buying right now!
As always, I am no pro, do your own research.
Let's see what 11pm (AUST time) 4 hour close is.
Give me some feedback crew, what are thoughts.
In addition BTC keeps hammering based on news, but that news has died down now. Futures is out of the way and there's nothing to push the masses except price action, so if that becomes negative, look out!
If it falls my re-entry levels would be 3 part, 15k (trend line), 13.5k (trend line and 21 day SMA's), 10-11k (50 day SMA and whole number support could not be broke imho). Similarly if it breaks above 17.5k and gets an open and close (4 hourly or hourly), it could very well run to 20k on euphoria alone and I will be riding that train all in!
Just be cautious if you're buying right now!
As always, I am no pro, do your own research.
Let's see what 11pm (AUST time) 4 hour close is.
Give me some feedback crew, what are thoughts.