For those of you who follow my posts you know that I have been "all-in" long for quite some time. You also know when I made my Adam and Eve double bottom call back in March. That being said, I'm running out of ideas. In this chart I have put together a compilation off most everything I have looked at over the past couple of months. The long term weekly moving averages, the long term trendline, the confirmation off the bottom, the current break above the trend, etc.
My best Fortune Telling at this point would be based on the weekly price staying above the trendline and closing a weekly candle in the $7300 to $7600 range or better. If this happens, then I think there is a very good chance we have more room to run. After that, we get a pull back to the trend and moving averages followed by a continuation North.
If not, then we could very well fall below the trend and retest the lower supports before moving North again. For me, it all hinges on where the weekly candle closes as to which way I am more committed to lean. Either way, I'm not going anywhere. If we go lower I'll simply pick up more BTC on the cheap. If we go higher I'll continue to ride what I have already accumulated. I'm still playing the long game so I'm sure my approach it much different than many on this site. Obviously this is not financial advice, just a look at what I've been thinking about.
Good luck to all no matter how you decide to play it.
My best Fortune Telling at this point would be based on the weekly price staying above the trendline and closing a weekly candle in the $7300 to $7600 range or better. If this happens, then I think there is a very good chance we have more room to run. After that, we get a pull back to the trend and moving averages followed by a continuation North.
If not, then we could very well fall below the trend and retest the lower supports before moving North again. For me, it all hinges on where the weekly candle closes as to which way I am more committed to lean. Either way, I'm not going anywhere. If we go lower I'll simply pick up more BTC on the cheap. If we go higher I'll continue to ride what I have already accumulated. I'm still playing the long game so I'm sure my approach it much different than many on this site. Obviously this is not financial advice, just a look at what I've been thinking about.
Good luck to all no matter how you decide to play it.
Yorum:
We got the weekly close above $7K which is above the multi-year trend. A very good confirmation for my current thesis. Still long.....