another rally incoming?

1 Mar 2018

the hourly charts for btc are showing signs we may get another bull rally after bouncing off the 10 day ema line. watch the price around 11k to 11.2k for an entry into either long or short position depending on the market reaction to the breakout (or lack thereof). if we keep pushing up steadily past 11.5k, 12-12.5k may be possible before meeting stiff resistance. on the flip side, a hard bounce down could push us well below 10k in the coming days. it isn't exactly clear how much of a psychological support 10k will be given how much time the market has spent around that figure lately. as always, this is not advice, just thinking out loud.

1 Mar 2018

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a riskier entry would be to wait a little longer for confirmation that this is not a bull trap set by european traders becoming active and enter a long position early, taking some profit at the top of the downtrend channel as you await confirmation of direction there.

1 Mar 2018

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big resistance test coming up at the 11k mark. if you went long early, it might be a good time to take some profit. if you are still waiting to enter, the next hour or two will likely be determinative.

1 Mar 2018

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trump's new tariff announcement could be adding momentum to the current push as people buy bitcoin in preparation for the apocalypse. keep a close eye.

3 Mar 2018

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we look pretty set for a daily close outside the down channel and the top of the down channel seems to be holding as support for the time being: