Hey TeamCrypto, we're back with more #Bitcoin movement! #BTC is moving exactly as expected. We were maintaining our #bull trend #support nicely (blue diagonal line). I anticipated a retest of our $7,500 level #resistance (red line), and we did just that. Bitcoin definitely got rejected pretty convincingly. We then settled back on our bull trend support again, but we soon broke below that. We seem to be consolidating in this area for now. It's hard to see that there is any real support here, so I wouldn't be surprised if we dipped down a bit further. I'd first like to see a retest our previous low just under $6,500 (orange line). If we can't hold there, we have our $5,900 support just under it (blue horizontal line). This is a VERY strong support that I have a hard time seeing us dropping below EVER again. The #RSI on the 1hr is obviously very oversold, but on the 4hr, it still shows room to dip. We shall see - stay vigilant!
I have been able to scale in three times with an average buy-in price under $7k. I am looking to snag one more below $6,500. I was waiting to see how BTC would react off the $7,500 resistance, and I'm glad we got one last (hopefully) rejection. I'd love to see a double bottom on $5,900 and then shoot off! This is a great time to scale in, team. Remember, never invest more than you're willing to lose!
Any thoughts? Anyone else picking up some cheap BTC? What about any other alts?