Pullback stronger than I expected - wait for big support?
Hi folks!
As I stated in my last two posts about BTCUSDT (see linked), I bought at the long-term trend line (purple),
as we saw buy signals in the MACD, RSI (not shown), Bollinger and the Money Flow Index.
However, the volume was still very low on the bounce and the pullback larger than expected - in addition to the apparent bull trap in the stock indexes worldwide in the last couple of days.
Thus, I am waiting for to se what is happening on the trend lines - if the red one breaks, I will be shorting, but I will buy in the case of a bounce at both the purple and the red - which was both well well respected on monday.
For the record, I am still very bearish on stocks, and I believe that a potential correction/crash here will affect Bitcoin as well.
DYOR.
NFA.
I wish you all well.
As I stated in my last two posts about BTCUSDT (see linked), I bought at the long-term trend line (purple),
as we saw buy signals in the MACD, RSI (not shown), Bollinger and the Money Flow Index.
However, the volume was still very low on the bounce and the pullback larger than expected - in addition to the apparent bull trap in the stock indexes worldwide in the last couple of days.
Thus, I am waiting for to se what is happening on the trend lines - if the red one breaks, I will be shorting, but I will buy in the case of a bounce at both the purple and the red - which was both well well respected on monday.
For the record, I am still very bearish on stocks, and I believe that a potential correction/crash here will affect Bitcoin as well.
DYOR.
NFA.
I wish you all well.
