Let's get back in the game, like i said earlier this weekend i took a long, my entries we're 6 710, 6 660, 6 610 & 6 580.
But why am i bullish?
1. Breakout from the hold downtrend channel
It's not the first time that it happened, but i still expect a good reaction from bulls.
After breaking on the 3d timeframe we saw a drop around 6 610 which was the broken resistance now turned into a support.
2. Halving vs Disbelief
From what i saw the majority lost more than 50% of their account in the last drop from 10.5k to 3.8k, we can see that a lot quit or are sitting in Usdt at the moment.
With Halving coming in a month it's the perfect moment to start pre-pumping Bitcoin. Which doesn't mean moon yet, but at least to see a normal correction from the drop.
3. Still be careful
My current strategy is to stay in the long until 7 710 - 7 975 (0.618 fibs), from there i would expect another drop around 5 300 (0.236 fibs).
If we get there, i will close my longs and will switch about 50 - 75% of my Btc position in Usdt, i don't want to miss the start of the wave up so i will always keep some Bitcoin.
If you're not in yet, i will add more around 6 870 - 6 820.
Cheers!
But why am i bullish?
1. Breakout from the hold downtrend channel
It's not the first time that it happened, but i still expect a good reaction from bulls.
After breaking on the 3d timeframe we saw a drop around 6 610 which was the broken resistance now turned into a support.
2. Halving vs Disbelief
From what i saw the majority lost more than 50% of their account in the last drop from 10.5k to 3.8k, we can see that a lot quit or are sitting in Usdt at the moment.
With Halving coming in a month it's the perfect moment to start pre-pumping Bitcoin. Which doesn't mean moon yet, but at least to see a normal correction from the drop.
3. Still be careful
My current strategy is to stay in the long until 7 710 - 7 975 (0.618 fibs), from there i would expect another drop around 5 300 (0.236 fibs).
If we get there, i will close my longs and will switch about 50 - 75% of my Btc position in Usdt, i don't want to miss the start of the wave up so i will always keep some Bitcoin.
If you're not in yet, i will add more around 6 870 - 6 820.
Cheers!