BitcoinShort
The DIP in Bitcoin confirms and persists...
Last week I posted about the suspiciously bearish signal in Bitcoin. Turns out it was correct. *back pat*. The one day spike was followed immediately by a -5.85% reversal. Nothing beats liquidity.
The question now is do we go up from here? My eggs are in the 'no' basket. While it's true that overall we're in a bullish flow state, the yellow countertrend signals should always be respected. After all, they are precursors to trend changes.
... and the times it doesn't signal a trend change, it still portends a short-term move or contextualizes one that has recently occurred.
So my expectation is that we see 28K before 35K. And hey, if the dip reverses with a green bounce, well then probably a good idea to pile in because that would be -- as the kids would say -- bullish af.
The question now is do we go up from here? My eggs are in the 'no' basket. While it's true that overall we're in a bullish flow state, the yellow countertrend signals should always be respected. After all, they are precursors to trend changes.
... and the times it doesn't signal a trend change, it still portends a short-term move or contextualizes one that has recently occurred.
So my expectation is that we see 28K before 35K. And hey, if the dip reverses with a green bounce, well then probably a good idea to pile in because that would be -- as the kids would say -- bullish af.
"Even the wise cannot see all ends." - Gandalf
Connect with me on Twitter. I'm always open to discuss.
Connect with me on Twitter. I'm always open to discuss.
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
"Even the wise cannot see all ends." - Gandalf
Connect with me on Twitter. I'm always open to discuss.
Connect with me on Twitter. I'm always open to discuss.
Publications connexes
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.