BTC Update! Bulls continue on... busting through prior range!
Alrighty, here we go again. Same story, different day. Last chart I was watching the consolidation from our push towards mid $6400's. My personal SL was set just under our recent higher low of $6313. From there I was ideally expecting another higher low before bulls would hopefully re-test $6500 or the top of the box from our prior trading range. Bulls established the higher low at $6372 and we now saw the push up with decent bull volume here to break $6500. We ran to $6540 and saw some profit taking but overall bulls need to see some brief consolidation and a push higher.
$6681 stands out as a potential resistance from a prior topping point but most importantly to me is low 6800s. If the bulls can get there and above that this week or weekend we are in some potential bullish territory. That is still a ways away so perfectly fine with consolidation and an eventual loss of 4 hour higher lows which would stop out a lot of traders including myself. But currently I am seeking profits on trades and have guaranteed a profitable trade here with the higher lows.
Alt coins have seen some great gains as well this week and I am personally trading those as well. I may start including occasional alt coin charts over the next few weeks if I find some time to post. Alt trading is a bit of a different game just due to liquidity purposes and much easier to manipulate in an already manipulated market.
Sorry for the long post but bottom line, bulls maintaining 4 hour higher lows, creeping stop loss up for personal position with each new higher low established. Next real test is 6800s for BTC but personally feel we'd see some significant consolidation prior to a push towards that level. Ideal scenario to me is another leg up here this week towards $6700, consolidation down towards mid to upper $6500's and then a push for $6800. But will wait and see. Have a plan. Know you exit points for stops or profit taking points. Stick to a plan so you don't allow emotions to make your decisions.
Happy Trading!
Just My 2 Sats!
$6681 stands out as a potential resistance from a prior topping point but most importantly to me is low 6800s. If the bulls can get there and above that this week or weekend we are in some potential bullish territory. That is still a ways away so perfectly fine with consolidation and an eventual loss of 4 hour higher lows which would stop out a lot of traders including myself. But currently I am seeking profits on trades and have guaranteed a profitable trade here with the higher lows.
Alt coins have seen some great gains as well this week and I am personally trading those as well. I may start including occasional alt coin charts over the next few weeks if I find some time to post. Alt trading is a bit of a different game just due to liquidity purposes and much easier to manipulate in an already manipulated market.
Sorry for the long post but bottom line, bulls maintaining 4 hour higher lows, creeping stop loss up for personal position with each new higher low established. Next real test is 6800s for BTC but personally feel we'd see some significant consolidation prior to a push towards that level. Ideal scenario to me is another leg up here this week towards $6700, consolidation down towards mid to upper $6500's and then a push for $6800. But will wait and see. Have a plan. Know you exit points for stops or profit taking points. Stick to a plan so you don't allow emotions to make your decisions.
Happy Trading!
Just My 2 Sats!
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