The recent spikes to the 8250 may look like a break out, but it is just a probe. Even though it breached its previous High of 7400, Price was not able to hold above it.
What this tells me is that:
1.Buyers are strong 2.Sellers are strong 3. With both ends strong i am expecting a range to form between 7200 and 6900 if sellers are able to break the current Support.
In the event it happens, i will need to fade the sellers out and wait for a significant buyer to breach and hold above that range. As of now, BTC and the USD are both strong, i would expect alot of spikes in the range which is gonna try to stop out the buyers. So i would not try to buy at the bottom of the range blindly.
I am not saying this will happen, but instead these are the signs i would like to see if i were to consider going long.
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.