We are in a very weird situation where the signals are very mixed and the direction is unclear.
Slightly bullish above 3900$.
Very bullish above 4100$.
Bearish below 3450$.
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My plan is to buy the pull back if there is any at around 3820$. Otherwise just wait to get in above 4100$. We are back into bull, but there is still a lot of resistance.
I expected the break of 3820$ to be bullish, but didn't expect a 130$ rally in an hour (when this resistance broke). BTC is up 8% just from the beginning of the day alone, so buying right now isn't that wise (we are ovebought too)... Therefore a pullback is reasonable and then go test 4050-4100$
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We've been bouncing between 3960 and 3850, but no clear direction. Right now we are leaning more towards bullish but the 3960-4125$ area is pretty significant.
We also have the futures settlement on the 29th of Sept so things might go rather crazy around there with a lot of news coming out. If no news come out, then it will be pretty boring...
We still haven't touched 3820$ which is my long entry, but someone could go long now if he feels particularly bullish...
Totally agree with this. A crossroads, with low volume to accentuate movements and whales eating lots of krill. Let's hope we choose the right side when it decides. Better yet let's make money whichever way it decides to go :-D
TauCeti
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Hi @nottsy
Thank you for chart and updates. Is there some update?
BitcoinMacro
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@TauCeti, Hey Tau, thanks for your good words. You can check my latest post to see a full analysis of what I think. Always remember to do your analysis and never trust what other people say ;)
jpdribbler
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Any Update?
BitcoinMacro
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@jpdribbler, My plan is to buy the pull back if there is any at around 3820$. Otherwise just wait to get in above 4100$. We are back into bull, but there is still a lot of resistance.
I expected the break of 3820$ to be bullish, but didn't expect a 130$ rally in an hour (when this resistance broke). BTC is up 8% just from the beginning of the day alone, so buying right now isn't that wise (we are ovebought too)...