A triangle seems to have formed, and hopefully when it breaks it'll be going up!
This would take us into a really nice range with upper resistance as high as 12500-13000 (trendline from the market peak on December 17th) breaking out from a downward trendline that spans all the way back to January 6th.
So my plan for now is to wait and see which way this breaks.
A little more info on what I do personally:
I'm following bitcoin price, but I'm not normally trading bitcoin itself (at least not against fiat). I have coins that I trade, and coins I would consider more of a longer term investment. Mostly I like to hold ETH, IOTA, EOS, and I recently started holding NEO. I should point out again though since I haven't made a proper introduction post yet, that I am NOT the most qualified expert in crypto. I 'm only a personal investor and trader who's been heavily into crypto trading for a little under a year. I traded in the Forex market before that.
Now, I typically trade altcoins. And mostly ones that aren't offered in fiat pairs. These tend to be newer and not in the top 10 for market cap. I find that for the most part when BTC is moving up, the entire market goes up, and strangely (seemingly against all logic) these Altcoin/BTC paion) the Altcoin/BTC pairs go up in BTC value, resulting in cumulative gains. When the market is dipping the opposite seems to apply.
So in general I like to be long in altcoins when BTC is rising, and move to BTC/ETH or fiat when I'm unsure.
But I really make these posts because I want to hear what all of you think.
Do you think this triangle is relevant? Am I making a mistake? Leave a comment and let me know and I would very much like to hear about it--ESPECIALLY if you can share opposing analysis and viewpoints. That's what I'm here for.
That's all for now. Many gains to you, and happy steeming! 🚀
