BTC - Short - Mid

BTC should be in its channel as I've had outlined for a few days now. I'm usually reluctant to post directly about BTC because I find Altcoins so much more intriguing. Nevertheless, I'm confident we should see some nice higher selling points in the near future--as long as we remain above the blue upward trend line until we test the upper channel limits. I will sell at ~5% above upper channel limit. The last time BTCUSD 7-day MA crossed the 30-day MA, we had an 18 day downtrend/sideways channel to work with. Expect great "Alt Weather" on the horizon if we stay lateral after testing the upper channel limit. If BTCUSD closes above the channel followed by a higher high, we should see what everyone was expecting--an increase to a new ATH for BTCUSD.

Cheers, and be smart about your trading,
-Jordan

Commentaire:

One comment that I need to make. The 7-day MA did not ALSO cross the 50-day MA, so we should see it respect the channel more than the downtrend on this recovery.

Cheers,
-Jordan