Looking at Bitcoin the past few days
we can see that is has definitely begun
to cool off after the intense rally...
Now deciding where to enter is the
next move. I am extremely cautious
being that we have yet to experience
any major correction in the market... This is suspect.
I am looking to enter between the price zone of $33,000 and $36,000.
This is the 61.8% retracement level of the most recent
impulse as well as the previous resistance which can now turn support.
We also have cloud support and someone is buying at this level (Check Volume of 12PM Candle).
BUT it is extremely important to watch how Bitcoin reacts at this level.
IF Bitcoin can hold this level we may see the next impulse push
us to $50,000.
But if it cracks, we may very likely see Bitcoin visiting
it's previous all time highs of $20,000.
My mindset is to be prepared for both scenarios.
For Documentation Purposes Only
- Metaphysical Trader
we can see that is has definitely begun
to cool off after the intense rally...
Now deciding where to enter is the
next move. I am extremely cautious
being that we have yet to experience
any major correction in the market... This is suspect.
I am looking to enter between the price zone of $33,000 and $36,000.
This is the 61.8% retracement level of the most recent
impulse as well as the previous resistance which can now turn support.
We also have cloud support and someone is buying at this level (Check Volume of 12PM Candle).
BUT it is extremely important to watch how Bitcoin reacts at this level.
IF Bitcoin can hold this level we may see the next impulse push
us to $50,000.
But if it cracks, we may very likely see Bitcoin visiting
it's previous all time highs of $20,000.
My mindset is to be prepared for both scenarios.
For Documentation Purposes Only
- Metaphysical Trader