P.S. - Right now may not be a bad idea for dollar cost averaging...
an hour ago
@WyckoffMode, you did a great job of hyping the weekly close ...
some people get excited for a movie to be released ...
others get excited watching there favourite sports team play ...
after around a year or so watching the BTC charts I get excited by weekly and monthly candle closes :)
trading is life and life is good :)
I just want to add another file in your case for the bulls
on the weekly the 15ema is above the 30 ema while also pointing up !
the 30 ema is above the 50 ema
and the 50 ema is above the 200 ema
this all major ema levels i watch are in a BULLISH posturing currently ?
I would at least wait for the 15 ema to close below the 30 ema to consider beginning to feel bearish personally
to me this ema pattern or posturing IS LITERALLY AS BULLISH AS THEY CAN GET LOL
not saying that i am long with leverage
but still if i was to enter a short position it would only be for "minutes" scalping nothing more ...
there is also fundamental bullish news flying around about banks institutional investors as well as the save haven narrative
yes absolutely the bears will have there turn to push price action down
your green crossing your red as well as the energy crossing the 0 line
this takes place when the wave form crosses and starts to turn down
but that selling pressure or price action is mitigated / weighted against :
1:who controls the trend
the bulls are currently in control of the weekly trend
and that control is increasing !
2:the trend either bullish or bearish
the trend is currently as bullish as it could possibility be on the weekly time frame
as stated above the ema 15 > 30 which is > 50 which is > 200
I could personally do with a holiday as I have been working far to hard on things out of my control
and you know what if I was to turn of my computer and go camping for a week
at this point in time I would sleep like a baby expecting price action to be no lower than 8k when I returned 7 days form now ...
is there a big move coming yes
but at the same time
these moves take some times weeks to form
I am not worried about price action having a few red candles
sure it happens part of any natural market
90 minutes x twelve (12) 90 minute bars (candles) = 1080 minutes divided by 60 = 18 hours.