Long: despite Vol dropping out - Who is who right now?
Aggiornato
Watching the trading on BTC is fascinating and I've enjoyed trying to get my head around the posturing and trying to identify 'fake outs'. While RSI and other indicators are looking pretty good I think TA has run its course now and this is just a game of cat and mouse.
- I think most of the buy posturing is probably from the bears themselves in an attempt to get folks to buy in at 8k then go hit the stops - I don't trust these bstrds.
- Any push from the Bulls is being suppressed. Interestingly volume has gone to shit so I guess this is working.
- I find it hard to justify a drop below the bottom trendline and it looks like the Bears are pushing for at least the $7,300 level before switching over. I understand why, the upside is too small at this time due to clarity on regulation coming in the summer and I don't believe we will see new highs before the later part of the year - would I be surprised if the long term trendline breaks for 30 minute or so to hit your stops and freak everyone out? No, this is BTC after all.
As a relative newcomer I'm being careful [read scared] about placing any buys at this time. Suffice to say, BTC has generally gone on a break before the touching the bottom trendline so I'm expecting the squeeze to be over at 7,850 after the Bears fail to hit $7,300 and BTC will pump fast. My machine always goes wild and has a melt down 2 minutes before the break so I should go place my stops now.
Still Long.
- I think most of the buy posturing is probably from the bears themselves in an attempt to get folks to buy in at 8k then go hit the stops - I don't trust these bstrds.
- Any push from the Bulls is being suppressed. Interestingly volume has gone to shit so I guess this is working.
- I find it hard to justify a drop below the bottom trendline and it looks like the Bears are pushing for at least the $7,300 level before switching over. I understand why, the upside is too small at this time due to clarity on regulation coming in the summer and I don't believe we will see new highs before the later part of the year - would I be surprised if the long term trendline breaks for 30 minute or so to hit your stops and freak everyone out? No, this is BTC after all.
As a relative newcomer I'm being careful [read scared] about placing any buys at this time. Suffice to say, BTC has generally gone on a break before the touching the bottom trendline so I'm expecting the squeeze to be over at 7,850 after the Bears fail to hit $7,300 and BTC will pump fast. My machine always goes wild and has a melt down 2 minutes before the break so I should go place my stops now.
Still Long.
Nota
Bears are the who - pumped and dumped - at least I got to see and respond to my first clear abandoned baby in the charts. The whole break was probably organised by the Bears as they need to disperse the bulls and get in a big drop to try crash through the 7800 mark.Another day and the bears will probably take their mark - they have momentum after all.
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