BTC Looks to Beat Bears
Just a quick one, more for my records than anything else.
BTC 3.75% pushing up past trend resistance again today. Basically, to me, the following needs to happen for the bulls to run (finally) with some conviction.
1. BTC 3.75% has to push through the trend with volume - multiple D candles with high volume, no tall wicks, and consistent upward trends day to day - however small.
2. BTC 3.75% has to overtake the 200 day MA.
3. These moves probably have to happen before May 1 2018.
4. The price is going to have to retest the trend line as a support level and succeed with conviction - probably before May 4 or 5 2018.
I'm willing to say at this point that if there isn't a move that covers all these bases, the bottom will fall out of this for a longer term bear trend. I'm not talking 8200 either, I'm talking like 5800 and even 4000. Buckle 0.68% up.
*Edited the trendline - it's early, what can I say?
BTC 3.75% pushing up past trend resistance again today. Basically, to me, the following needs to happen for the bulls to run (finally) with some conviction.
1. BTC 3.75% has to push through the trend with volume - multiple D candles with high volume, no tall wicks, and consistent upward trends day to day - however small.
2. BTC 3.75% has to overtake the 200 day MA.
3. These moves probably have to happen before May 1 2018.
4. The price is going to have to retest the trend line as a support level and succeed with conviction - probably before May 4 or 5 2018.
I'm willing to say at this point that if there isn't a move that covers all these bases, the bottom will fall out of this for a longer term bear trend. I'm not talking 8200 either, I'm talking like 5800 and even 4000. Buckle 0.68% up.
*Edited the trendline - it's early, what can I say?
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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.