Despite the recent movement's we have seen, it is hard to say that Bitcoin
BTCUSD
has done anything surprising. The market is still in consolidation and the movement that have captured the attention of crypto traders are minuscule compared to Bitcoins previous volatility. This is interesting to note as the price ranges only approximately 5% - 10% above prior lows from this year without creating any significant lower lows. In addition to that, the price has been creeping out a triangle after a long consolidation. With this in mind, I've been watching the current pullback from the last ~ 6% rally that began in the last Days of October and ended last week with the purpose of finding a good long entry for a high probability bounce in this strong support zone. The blue triangle is made up of four different triangles based around prior support and resistance zones. The primary caution here is sellers continue to sell aggressively and the prior low of 6209 has been breeched. Obviously, theres no way to be certain the direction that this is going to move in but with a careful strategy of staggered buys could lead to a great long entry for a possible bounce/reversal run as we near the region
XBTUSD.P
has shown the strongest support in. Seller exhaustion could be around the corner but proceed with caution...
BTCUSD
has done anything surprising. The market is still in consolidation and the movement that have captured the attention of crypto traders are minuscule compared to Bitcoins previous volatility. This is interesting to note as the price ranges only approximately 5% - 10% above prior lows from this year without creating any significant lower lows. In addition to that, the price has been creeping out a triangle after a long consolidation. With this in mind, I've been watching the current pullback from the last ~ 6% rally that began in the last Days of October and ended last week with the purpose of finding a good long entry for a high probability bounce in this strong support zone. The blue triangle is made up of four different triangles based around prior support and resistance zones. The primary caution here is sellers continue to sell aggressively and the prior low of 6209 has been breeched. Obviously, theres no way to be certain the direction that this is going to move in but with a careful strategy of staggered buys could lead to a great long entry for a possible bounce/reversal run as we near the region
XBTUSD.P
has shown the strongest support in. Seller exhaustion could be around the corner but proceed with caution...
Dagangan ditutup: hentian tercapai:
Oh boy... That went south real quick.
