BTC - Return of the crab
Didn't get the V-shaped recovery I had hoped for, at least on the lower time frames, I expected BTC to follow the S&P but I was wrong.
This dip has had some good lessons. I definitely lean on optimism to curb my anxiety and fear when I should just stay neutral and observe the patterns the charts give us.
As for the current price action, expecting more crab, have to wait and see if we lock in a daily bull div tomorrow, historically they haven't lead to a bounce immediately but tend to signal that we are at a key level of support and to expect a reversal from this level. If we loose this level than we should expect a major correction and next stop would be in the low 30's. Do I think that's possible - yes. Do I think that's what is going to happen - no.
Still bullish but want to see a daily close above 62240 before I'm expecting new ATH's otherwise I'll be selling weakness and buying support till then.
This dip has had some good lessons. I definitely lean on optimism to curb my anxiety and fear when I should just stay neutral and observe the patterns the charts give us.
As for the current price action, expecting more crab, have to wait and see if we lock in a daily bull div tomorrow, historically they haven't lead to a bounce immediately but tend to signal that we are at a key level of support and to expect a reversal from this level. If we loose this level than we should expect a major correction and next stop would be in the low 30's. Do I think that's possible - yes. Do I think that's what is going to happen - no.
Still bullish but want to see a daily close above 62240 before I'm expecting new ATH's otherwise I'll be selling weakness and buying support till then.
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