Read it how you want...BTC/USD is still consolidating

BTC has shown its trend. If you look at BTCUSD in isolation you might look at this chart slightly more bearishly, but BTC has been driven higher by a shift from ETH tokens to BTC. The result is that you might read this more negatively than it should read. We look at us in a triable formation and that flag has yet to be broken. You can draw it differently and get a different result, but even then I would argue its a false break out. Volumes are low and if anything, both fundamentals and oversold conditions developing in other currencies its time to get long, not short the complex. But given BTC.D, I would look at ETH (at current levels and also my least favorite ), BNB, BCH and BSV.

Yorum:

I see lots of trend followers are beating the drum to sell BTC here! Bad idea, the volume doesn't confirm the flag formation for one..second Gold is still strong, I cant sell BTC when Gold is on the highs and BTC is talking a dip...this is a buying opportunity plain and simple....what is really happening here has to do with BTCs recent explosion in dominance, that is driving crosses down. We may see a bit more selling, but this is an accumulation opportunity. I would actually be buying BCH here, but nothing wrong with BTC too.