Low chances for good entry piont

14 mar

Morning folks,

So, BTC keeps it unstoppable rally, and is strongly overbought on weekly chart. But for now market totally ignores this. Yes, upward action is slowing, we have small tactical bearish grabbers on 4H chart, but it gives low chances on moderate retracement.

BTC successfully holds above previous ATH, showing no significant retracement and no doubts - this is bullish sign. Besides it has no strong resistance levels above, right up to our 85-88K target.

That's being said - common technical rules recommend to not buy and way for the pullback. But would you wait or not - you need to decide by yourself.

Here we just acknowledge that we do not have attractive entry point. Only, if by some reason, market will show pullback to 65K or at least to 68K, it might be interesting.

The same is for bearish positions - no reasons by far.