Heyooooooooooooooooooo! Haven't published in a while but wanted to share my thoughts on Bitcoin. Not financial advice just my two cents!
1. Bitcoin broke above descending trendline and is now using it as support, so I guessssssssss the "bump and run" is still in play, but we may be bumping more before running
2. Volume profile shows 3 distinct distribution levels:
a. $53.6k-$59k: this is the range that I will be using the confirm Bullish continuation
b. $46k-50k: this is the range that I will be calling "No Man's Land". Trade it at your own risk but it just feels like a trappy range to me
c. $40.6k- $36k: this is where I will be scattering limit order buys
3. Going to await a break in negative RSI trend to confirm reversal
Share your thoughts and predictions & happy trading!
1. Bitcoin broke above descending trendline and is now using it as support, so I guessssssssss the "bump and run" is still in play, but we may be bumping more before running
2. Volume profile shows 3 distinct distribution levels:
a. $53.6k-$59k: this is the range that I will be using the confirm Bullish continuation
b. $46k-50k: this is the range that I will be calling "No Man's Land". Trade it at your own risk but it just feels like a trappy range to me
c. $40.6k- $36k: this is where I will be scattering limit order buys
3. Going to await a break in negative RSI trend to confirm reversal
Share your thoughts and predictions & happy trading!