I am very new to trading anything, and caught the crypto bug. Looks to me like we are still in a bear trend, but we broke long term resistance briefly the other day, followed by a correction. I thought the correction would go lower since we crossed support, but it bounced back and then broke short term bear trend. At this point I see volatility going up to 11,500 or so at which point we hit the long term resistance line. Since long term trend lines for both bull and bear are getting close to crossing I feel like this will be a major point telling us where BTC will go in the next few months. If we head over the top then we will go into full bull mode, but if it gets rejected we may retrace down to 7 or 8k. Not very sure though.
Let me know what you think. Am I way off, or do I kinda know what I'm talking about? As I said I'm new to trading and crypto, so any feedback at all would be very helpful. I love to learn, so if you gotta rip my analysis apart go ahead. Teach me something!
Let me know what you think. Am I way off, or do I kinda know what I'm talking about? As I said I'm new to trading and crypto, so any feedback at all would be very helpful. I love to learn, so if you gotta rip my analysis apart go ahead. Teach me something!