BTC since I made the post earlier today outlining why I am bearish short term has since moved from the top of the bollinger bands where it was getting rejected and has moved under the 10 10 EMA & MA lines on the one hour chart.
The hour of 15:00 moved the price into the zone, and since then (7 hours) BTC has not been able to break back through, in fact it is getting rejected at those lines and also rejected moving down to the 50 DEMA.
Waiting for volume to pick up, it is 12:48 in Tokyo, 06:47 in Moscow, 03:48 in London. I do expect volume to pick up within 3-6 hours and I do expect to see strong volume take BTC in the trend it has been going in. As much as I do like the asset and what it stands for, I cannot deny logic and reason and quite simply the trend is your friend.
Let's hang tight and see what BTC has in store, right now I have short positions, but I am a swing trader and go with the flow.
I have linked the aforementioned published idea.
The hour of 15:00 moved the price into the zone, and since then (7 hours) BTC has not been able to break back through, in fact it is getting rejected at those lines and also rejected moving down to the 50 DEMA.
Waiting for volume to pick up, it is 12:48 in Tokyo, 06:47 in Moscow, 03:48 in London. I do expect volume to pick up within 3-6 hours and I do expect to see strong volume take BTC in the trend it has been going in. As much as I do like the asset and what it stands for, I cannot deny logic and reason and quite simply the trend is your friend.
Let's hang tight and see what BTC has in store, right now I have short positions, but I am a swing trader and go with the flow.
I have linked the aforementioned published idea.
