Is the crypto winter over?
- Thread starter schizo
- Start date
It's not whether it can "rise above 25K". That's already been done on a number of occasions. It's whether it can CLOSE above 25K.
Great call, Da Mick! Don't want to jinx it but btc above $25k in much less than 24 hours and doesn't look at this time to be going below
Tru dat, my calcs indicate it must rise or hold its current position, if it fails, it's in trouble, in which case I'll scedaddle out.
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How many hours before BTC closes above $25K and will you be closing your position or reverse long?
I would first like to see the daily chart close above 25K. If that happens, I will flip long when it retests 25,300. Otherwise, I have a resting buy stop at just north of 27K.
Currently price us above Aug 22 high, that being about 8 months ago.
I need to change this definition, it can come down again below 25000, but not until next month. If it fails below 25000 this month then it's on shaky ground once again.
Yeah there's a price and time component involved, a quick failure being weakness.
Well, that's exactly my point. We broke above that level 5 times during intraday, only to close below it. I would like to see BTC close above that level before committing myself to long.
Also it's worth noting that there's a major resistance between 28,500 and 29,000.