Bitcoin push-Could it be "Buy the New, Sell the Event" ? Maybe..
Using the fractel chart again as it is the most Bullish chart I have and yet, in the back of my head, in all the Euphoria of the latest crypto rush, I am feeling a warning bell in my head.
I do like to consider Both Bullish and Bearish AT ALL TIMES - that way, I am ready for all events, nearly.
Anyway, I have been going on about a pull back for ages and if we are following this Fractel from 2013-2017 ATH, then we are due one. And we aRE LATE for it.
But, apart from the Bitcoin Weekly MACD which maybe turning Bearish, PA has strength to continue pushing higher
The Fractal has a -30% pull back in it, a sharp fall that was bought back up., which we are already late for.
Now, I also have been talking about a date that is coming up in a number of charts as a date of interest. that date is 23rd January. Given a tolerence of error, that could point towards 20th - the day Trump gets appointed President.
As the media will have us understand, He is a Crypto friendly Man But who is to say that will avoid the "Buy the News, Sell the Event" type moment.
The most bullish Crypto coins have suffered sharp pull backs after "events", including BTC in the past.
So, Maybe just have this in mind and have a plan in place.
There is NO guarantee that if BTC pulls back, that ALTS will run.
I doubt I will get many Boosts on this...
But, It is a possible outcome and you are well advised to have precautions...because, at some point, BTC will begin to pull back
Get that plan ready now, it may happen on Monday
I do like to consider Both Bullish and Bearish AT ALL TIMES - that way, I am ready for all events, nearly.
Anyway, I have been going on about a pull back for ages and if we are following this Fractel from 2013-2017 ATH, then we are due one. And we aRE LATE for it.
But, apart from the Bitcoin Weekly MACD which maybe turning Bearish, PA has strength to continue pushing higher
The Fractal has a -30% pull back in it, a sharp fall that was bought back up., which we are already late for.
Now, I also have been talking about a date that is coming up in a number of charts as a date of interest. that date is 23rd January. Given a tolerence of error, that could point towards 20th - the day Trump gets appointed President.
As the media will have us understand, He is a Crypto friendly Man But who is to say that will avoid the "Buy the News, Sell the Event" type moment.
The most bullish Crypto coins have suffered sharp pull backs after "events", including BTC in the past.
So, Maybe just have this in mind and have a plan in place.
There is NO guarantee that if BTC pulls back, that ALTS will run.
I doubt I will get many Boosts on this...
But, It is a possible outcome and you are well advised to have precautions...because, at some point, BTC will begin to pull back
Get that plan ready now, it may happen on Monday
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.