BTC Bullish. Please be seated! Almost ready for Price Discovery
Analysis of Bitcoin on a 3 day chart and 3 reasons the chart indicates a bullish continuation!
1). The candlestick bodies remain above the outer KC band. Spot trading on longer time frames so I exclude wicks (stop-loss hunts)
2). Since June 27th, the bulls absorbed 3 heavy selling sessions with little price movement (don't forget its a 3 day chart)
3). Rising momentum. Currently 6190 with recent highs around 7849.
Combine the 3 and there is reason to be bullish. It is bitcoin though and "shock and aw" type bars do break trends violently.
Close position anytime 3 day closes with candle body below outer band of KC. Begin incremental selling above 16K but hold majority for PRICE DISCOVERY! New ATH baby.
Big bears going to hold all this paper while us baby bulls enjoy the run. Let them have their stop-loss hunts.
Not financial advise.
1). The candlestick bodies remain above the outer KC band. Spot trading on longer time frames so I exclude wicks (stop-loss hunts)
2). Since June 27th, the bulls absorbed 3 heavy selling sessions with little price movement (don't forget its a 3 day chart)
3). Rising momentum. Currently 6190 with recent highs around 7849.
Combine the 3 and there is reason to be bullish. It is bitcoin though and "shock and aw" type bars do break trends violently.
Close position anytime 3 day closes with candle body below outer band of KC. Begin incremental selling above 16K but hold majority for PRICE DISCOVERY! New ATH baby.
Big bears going to hold all this paper while us baby bulls enjoy the run. Let them have their stop-loss hunts.
Not financial advise.