Hello all,
Big move on the bitcoin :) and everyone seems super excited!!
What is going on?
Well, the fundamentals and the technical analysis are in phase and the news is the trigger of this movement BUT the price was already positioned and ready.
The cycle since the top of 05 may 2018 ended around 5,780.00 and despite the break of the February low of around 5,920, there was no follow-up for the bears.
Now, how to join the train and not end up in a situation where we would buy the highest to be picked up on a downturn?
In 4h, we have for the moment a movement in 3 waves up since 5,780.00 (with a bullish sequence with the breakout of 6,820.00) which has already happened in the zone of equality of leg (7,084.28-7,323.18).
Therefore, the bears should load again (so a fold that I could not buy because 3 waves is corrective and the RSI confirms).
So you have to wait for 5 waves up or a break of 9.948.98. It's frustrating but that's how trading is.
Because on the 1h, profits will be taken. Anyway, for those who are not buying, it will be necessary to be patient on the BTC/USD.
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IOTA: UKLNL9KXJKIIKPGDYS9AUGUKDOKPNAZ9THYSXAKFYEVURGO9CQI9XGPMPHUBOTXDDGGEWHQG9LYSIBIFWKXBITNNGB
Ethereum: 0x63a65a8f8e850e58d941afe55df4c213295befcd
Bitcoin: 1EVbgEB2hRYoJjWckzDSXNHtAmQEPdRnHC
Litecoin: LXM1o2mvUmSMCS1a9z8X91JGGZ4os1crps
Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency. I'm not an investment adviser and the information shared on my blog is not meant to be a solicitation or recommendation to buy/sell any instrument. Future trading results can never be guaranteed.