Well it was a strong day for BTC with two nice green candle in a row and Twitter is once again excited about the price going to .... well everyone has a number. But before we mortgage the house (and I acknowledge we are moving in the right direction), we should note that we are still inside the zone of consolidation and price action has not been enthusiastically supported by volume. Leverage long positions are still building and that never bodes well for a strong price breakout. Overall the market is a strong one, BTC is moving in the right direction, but there are still head winds. Treat carefully and try not to get taken out with a long wick when the whales decide to liquidate those levered longs.
ADX is low and weak so the market is not showing any real commitment to a breakout yet.
ADX is low and weak so the market is not showing any real commitment to a breakout yet.
