BTC inside upward channel. Buy-in around 7360; target 8830.
Update of my previous analysis. Everything is going very smoothly according to plan at the moment. Nearly too smoothly. BTC has exited the downward channel and is now forming a new upward channel. Because it's still a bit early, the outer limits of the channel might not be perfectly drawn. Because of it's width, I'm assuming that the path it's been following these past few days represents the middle of the channel, with the bottom starting at the low near 7000 that we hit the other day.
I'm going to go in once BTC touches the low of the channel. If it goes lower, I'll simply readjust the lower boundary, but as long as it doesn't enter (and stay in) the down channel, then there's nothing to stress about, the momentum is still bullish.
As I said before, I don't buy BTC for BTC. I'm always looking for the coin that will outperform it, and these days I really like ADA. BTC is simply the ultimate signal I use to confirm when I need to enter or exit a trade. So when I say "I'm going in", I mean I'm buying whichever coin I've identified will outperform BTC.
If you like my ideas, I invite you to "like" and comment, it'll encourage me to update more regularly. I might eventually publish some of the analysis I did for the other coins. If you don't like them, well I still invite you to comment and tell me why and how I could be better :)
Not investment advice blah blah blah you know the drill!
I'm going to go in once BTC touches the low of the channel. If it goes lower, I'll simply readjust the lower boundary, but as long as it doesn't enter (and stay in) the down channel, then there's nothing to stress about, the momentum is still bullish.
As I said before, I don't buy BTC for BTC. I'm always looking for the coin that will outperform it, and these days I really like ADA. BTC is simply the ultimate signal I use to confirm when I need to enter or exit a trade. So when I say "I'm going in", I mean I'm buying whichever coin I've identified will outperform BTC.
If you like my ideas, I invite you to "like" and comment, it'll encourage me to update more regularly. I might eventually publish some of the analysis I did for the other coins. If you don't like them, well I still invite you to comment and tell me why and how I could be better :)
Not investment advice blah blah blah you know the drill!
Here's an update with the new information