The price of bitcoin put in 3 red daily candles in a row and today's is showing red so far as well.
With that being said you might assume price broke down from its recent uptrend. If you as me all it did was return back to it after making a moonshot last week that it has given back.
Ascending Channel Holds
Looking at the daily chart you see that when this move began just under a month ago. Mid-December was the beginning of the aggressive move higher, but there was order to it the first few weeks.
Than the moonshot happened from 32K to 41K where 9K points in 4 days which followed a 14k move that took several weeks. Price pulled far away from the 10 day moving average so pulling back to that I assumed was in the cards, but for the first since December 13th price cracked below the 10 day.
Holding above that for any extended period is super bullish in my opinion. So it was fun while it lasted.
But then my eye was in the ascending channel that was created before price fot crazy volitile.
It only put in the minimum of A,B,C (meaning price touch the support line twice and bounce off the resistance once) before breaking out for the moonshot so I'm not putting a ton of weight into it.
The fact that price spiked off it twice on the flash crash days is telling though.
For that reason I am keeping that trendline place and using it as a pivot point until proven otherwise.
Posted Using LeoFinance Beta
That is why I told some friends that it is better not to buy bitcoin until the fall, usually, almost a year or more ago, I do not know if they remember it reached almost $ 20,000 and I knew there would be relapses, due to its exponential rise , since when bitcoin changes and grows, people start to "buy", and to sell some making it unstable, that is why we must take advantage of extreme falls to buy since it indicates a future rise, it is not 100% true but it is what has past when bitcoin has risen, and I think it's time to think straight and buy safely
Posted Using LeoFinance Beta
Yes, buy the on the dips and sell on the rips. I bought more at 32.5K and have orders in lower than that too.
Posted Using LeoFinance Beta
When it comes to bitcoin my thinking has always been to buy and not sell
Posted Using LeoFinance Beta
Interesting let’s wait and watch what bitcoin is going to do.
Plz tell me anyone.
How shall i withdraw from leofinance.
Plz hepl me
Posted Using LeoFinance Beta
The trend line you have your chart seems acceptable.
It matches with many different ways to analyze a chart.
I took this pull back as a way to add to my position.
I hope everyone is doing the same.
On more weakness I will add even more.
Posted Using LeoFinance Beta
Yes, I added at 32.5K and have an order sitting at 29.5K
Posted Using LeoFinance Beta
It is still a good opportunity to invest on BTC. This short fall can help the traders a little bit.
Posted Using LeoFinance Beta
btc is very volatile but I won't be surprise if by end of the week it is at all time highs again just like it did two weeks ago on that +10% pullback. Thanks.
Posted Using LeoFinance Beta
yes, that would be wonderful. I bought some more on this pullback already.
Posted Using LeoFinance Beta
The fast recovery to 36k is really bullish, imo.
I still think/hope 2021 will be like 2017, so Im buckling up
Posted Using LeoFinance Beta
The bull is still angry. That's for sure.
Posted Using LeoFinance Beta
Right back into that last area of resistance, now turned to support (the one red candle on the way up haha).
Exactly what you want to see for a bullish continuation and easy money for those buying the dip.
Cheers.
Posted Using LeoFinance Beta
Hola,
Estoy planteando dos posibles escenarios. El primero que haga un movimiento bajista hasta los 27000$, donde es una buena zona de compra. El escenario 2, es que el precio vaya a retestear los niveles de los 40000$ y de no superarlo, entrariamos en venta. Cual crees que sea el mas probable??
Saludos.
Posted Using LeoFinance Beta