Well this is it. Bitcoin defended at the bottom of the Defense zone as expected.
Now three possibilities:
1) Consolidate and bounce
2) Bear trap wick (on longer time scales) into the 37-39k region
3) Trouble
I think it is option 1 or 2. 3 only makes sense if all markets are crashing, but so far they are just correcting
So this is not financial advice but I am continuing my accumulation, but keeping majority of powder dry
Now three possibilities:
1) Consolidate and bounce
2) Bear trap wick (on longer time scales) into the 37-39k region
3) Trouble
I think it is option 1 or 2. 3 only makes sense if all markets are crashing, but so far they are just correcting
So this is not financial advice but I am continuing my accumulation, but keeping majority of powder dry
Comment:
I go back to bullish (short-term) if BTCUSD gets past the 42.7k level quickly, particularly so if it happens on this current bounce off support
Comment:
Only a wick now in the defense zone. Encouraging!
