BTC March 15, 24: Crossing Down The Trendline
On March 15, 24,
BTCUSD
crossed down the trendline as I draw on the chart. I used this trendline to hold on to a stock, or in this case, a Bitcoin, when it is going on a big move, meaning I will sell if it will cross down.
Furthermore, the trendline also coincides with the moving average MA-10, hence I use this trendline to sell.
But this is just a technical sell. I am always looking for buying opportunities, and never ever short any Bitcoin or even altcoins.
Here are my thoughts for re-entry.
First situation:
BTCUSD
might pump up again crossing back the moving average MA-10, which is this case is right $70,000 now. I would re-enter on this signal.
Second situation: it can move down futher to the next moving average MA-20 which is around $65,000. In this case I will look for an accumulation area before entering again.
Whatever the case,
BTCUSD
is still in uptrend now and for me, the best strategy is looking for opportunities for going long.
BTCUSD
crossed down the trendline as I draw on the chart. I used this trendline to hold on to a stock, or in this case, a Bitcoin, when it is going on a big move, meaning I will sell if it will cross down. Furthermore, the trendline also coincides with the moving average MA-10, hence I use this trendline to sell.
But this is just a technical sell. I am always looking for buying opportunities, and never ever short any Bitcoin or even altcoins.
Here are my thoughts for re-entry.
First situation:
BTCUSD
might pump up again crossing back the moving average MA-10, which is this case is right $70,000 now. I would re-enter on this signal. Second situation: it can move down futher to the next moving average MA-20 which is around $65,000. In this case I will look for an accumulation area before entering again.
Whatever the case,
BTCUSD
is still in uptrend now and for me, the best strategy is looking for opportunities for going long.