BTC Midterm outlook (update)
Almost two months has passed since my last BTC analysis.
At that moment there was several signs of strength in BTC that we are now seeing in full force. Next week all ichimoku components will be in bullish mode in weekly TF, and that means that we BTC is officially in a bullish trend.
The next question to solve is: How to trade in bullish trend?
1: don't short it, you will be betting against a rocket and unless you are very good at scalping and can monitor your trades live, in bullish trends the retracements are usually very scarce.
2: a better approach is to place longs at some key points where you see price could be in a good retracement and where the market is gonna have interest, we can use pivots, price patterns, order block and Fibonacci levels to find those points.
I will share my next LONG play once the time comes, using the method stated above.
Right now I don't recommend anyone to buy because if you did not enter before with the multiple signs of bull trend we had, now you are buying at a possible peak and that is not wise
At that moment there was several signs of strength in BTC that we are now seeing in full force. Next week all ichimoku components will be in bullish mode in weekly TF, and that means that we BTC is officially in a bullish trend.
The next question to solve is: How to trade in bullish trend?
1: don't short it, you will be betting against a rocket and unless you are very good at scalping and can monitor your trades live, in bullish trends the retracements are usually very scarce.
2: a better approach is to place longs at some key points where you see price could be in a good retracement and where the market is gonna have interest, we can use pivots, price patterns, order block and Fibonacci levels to find those points.
I will share my next LONG play once the time comes, using the method stated above.
Right now I don't recommend anyone to buy because if you did not enter before with the multiple signs of bull trend we had, now you are buying at a possible peak and that is not wise
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