BTC Update!
Will begin posting my regular chart updates here. Enjoy!
Not a whole lot happening lately. I remain all cash after the last trade and just patiently waiting for market to make up it's mind.
Daily chart looks very healthy overall. Held a bit under 50 day MA and our long term downtrend line so a pull back from there just perfectly normal to me. BTC bulls ideally would like to hold $7,760 to maintain a nice higher low but really I am watching the $7500 area as being a big area to hold for the bulls. 4 hour chart gives a bit more details to situation where bulls will try and get back above $8,162 and re-attempt the $8400-8600 range and then next resistance would be up near $9k.
I do lean slightly bearish here but the bulls are definitely trying to keep this rally going. So prepared for either scenario to ride the wave if bulls can get going again or wait for a nice bounce play if the bears send it down.
