When to consider BTC (and with it other crypto's) bullish again?
The cypto-community is eagerly waiting for the crypto-complex to turn bullish again. Understandably.
Many have burned their fingers in the recent fake moves up.
So the question is:
(When) Will crypto's turn bullish again?
As for other crypto's:
It is clear that BTC holds the key. I guess in part because most other holdings in crypto-coins are funded with BTC(-profits). I don't trust "bullish" moves in other crypto's unless it is supported by a strengthening BTC.
As for BTC(USD) here are some guidelines i consider conditional for BTC to be bullish again:
0. Wait for the next BTC-futures expiry (wed 14-2-18 ?)
1. BTC must respect supportlevel (green zone on chart)
2. Break red trendline up and bounce of resistance (pink zone on chart)
3. Bounce back and make higher high
4. Turn up again and break through resistance
5. Break 12500 level upwards with closing candle (H4 / D1)
Many have burned their fingers in the recent fake moves up.
So the question is:
(When) Will crypto's turn bullish again?
As for other crypto's:
It is clear that BTC holds the key. I guess in part because most other holdings in crypto-coins are funded with BTC(-profits). I don't trust "bullish" moves in other crypto's unless it is supported by a strengthening BTC.
As for BTC(USD) here are some guidelines i consider conditional for BTC to be bullish again:
0. Wait for the next BTC-futures expiry (wed 14-2-18 ?)
1. BTC must respect supportlevel (green zone on chart)
2. Break red trendline up and bounce of resistance (pink zone on chart)
3. Bounce back and make higher high
4. Turn up again and break through resistance
5. Break 12500 level upwards with closing candle (H4 / D1)
Sultan of Swing
