Alrighty, here we go again. Same story, different day. Last chart I was watching the consolidation from our push towards mid $6400's. My personal SL was set just under our recent higher low of $6313. From there I was ideally expecting another higher low before bulls would hopefully re-test $6500 or the top of the box from our prior trading range. Bulls established the higher low at $6372 and we now saw the push up with decent bull volume here to break $6500. We ran to $6540 and saw some profit taking but overall bulls need to see some brief consolidation and a push higher.
$6681 stands out as a potential resistance from a prior topping point but most importantly to me is low $6800s. If the bulls can get there and above that this week or weekend we are in some potential bullish territory. That is still a ways away so perfectly fine with consolidation and an eventual loss of 4 hour higher lows which would stop out a lot of traders including myself. But currently I am seeking profits on trades and have guaranteed a profitable trade here with the higher lows.
Alt coins have seen some great gains as well this week and I am personally trading those as well. I may start including occasional alt coin charts over the next few weeks if I find some time to post. Alt trading is a bit of a different game just due to liquidity purposes and much easier to manipulate in an already manipulated market.
Sorry for the long post but bottom line, bulls maintaining 4 hour higher lows, creeping stop loss up for personal position with each new higher low established. Next real test is $6800s for BTC but personally feel we'd see some significant consolidation prior to a push towards that level. Ideal scenario to me is another leg up here this week towards $6700, consolidation down towards mid to upper $6500's and then a push for $6800. But will wait and see. Have a plan. Know you exit points for stops or profit taking points. Stick to a plan so you don't allow emotions to make your decisions.
Happy Trading!
Just My 2 Sats!
$6681 stands out as a potential resistance from a prior topping point but most importantly to me is low $6800s. If the bulls can get there and above that this week or weekend we are in some potential bullish territory. That is still a ways away so perfectly fine with consolidation and an eventual loss of 4 hour higher lows which would stop out a lot of traders including myself. But currently I am seeking profits on trades and have guaranteed a profitable trade here with the higher lows.
Alt coins have seen some great gains as well this week and I am personally trading those as well. I may start including occasional alt coin charts over the next few weeks if I find some time to post. Alt trading is a bit of a different game just due to liquidity purposes and much easier to manipulate in an already manipulated market.
Sorry for the long post but bottom line, bulls maintaining 4 hour higher lows, creeping stop loss up for personal position with each new higher low established. Next real test is $6800s for BTC but personally feel we'd see some significant consolidation prior to a push towards that level. Ideal scenario to me is another leg up here this week towards $6700, consolidation down towards mid to upper $6500's and then a push for $6800. But will wait and see. Have a plan. Know you exit points for stops or profit taking points. Stick to a plan so you don't allow emotions to make your decisions.
Happy Trading!
Just My 2 Sats!
