Hello again, everyone!
Today has seen us struggling to break the 40k level for bitcoin. This is a key level with a lot of resistance and we are yet to hold it. I personally think greed is at an all time high with a lot of people constantly shorting that level because it is proven to work very well for scalping large swings.
In my opinion, the higher lows are proving we are getting closer to actually breaking it, while also having formed a great support at ~38.5k mark. This might be a risky long, but I am fully convinced the rise will be violent as there will be a lot of shorts to squeeze when we do break the 40-41k level for good.
As always, please keep doing analysis of your own as well go out there and let's make some money! Also if you appreciate my commentary make sure to also follow me as I refine my craft in this, I am just starting. Thank you!
Today has seen us struggling to break the 40k level for bitcoin. This is a key level with a lot of resistance and we are yet to hold it. I personally think greed is at an all time high with a lot of people constantly shorting that level because it is proven to work very well for scalping large swings.
In my opinion, the higher lows are proving we are getting closer to actually breaking it, while also having formed a great support at ~38.5k mark. This might be a risky long, but I am fully convinced the rise will be violent as there will be a lot of shorts to squeeze when we do break the 40-41k level for good.
As always, please keep doing analysis of your own as well go out there and let's make some money! Also if you appreciate my commentary make sure to also follow me as I refine my craft in this, I am just starting. Thank you!