Looking at Bitcoin we can see once we cleared the resistance level for bullish movement we have had 3 clear bullish waves. One of my mentors taught me about the 3 waves motions. price has naturally had a retrace after the bullish momentum. Gladly we havent broken back below the first wave and found support just above the $8K level, were also still way in the uptrend so still very much bullish structure. I believe that we will now see some sideways action whilst we gather demand for our next push upwards for the halving which is due very soon. If price can stay above the 100 day average then my circle is my ideal location for the next big momentum. Knowing bitcoin it could happens sooner than this so be ready if it does start to move. GLIYF
Bitcoin Bull
- Thread starter Lee-Bax
- Start date
as in many other futures like Aud, ES NQ ...index futures, gold ....
this uptrend started in mid Mar 2020.
some people may attempt to long it ( because their thinking is if it breaks new high, it is very safe to buy etc etc etc).
but that carries a higher risk compare with those who have already longed it in end Mar / Apr 2020.
Price has more than doubled since mid Mar 20
this uptrend started in mid Mar 2020.
some people may attempt to long it ( because their thinking is if it breaks new high, it is very safe to buy etc etc etc).
but that carries a higher risk compare with those who have already longed it in end Mar / Apr 2020.
Price has more than doubled since mid Mar 20
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Agree but if the move is to continue going long right now without hindsight that it went up is safer because the trend is now confirmed up, can change of course any time