A good time to short?

May 8, 2019

Rising price and faltering volume in this ascending broadening wedge has me cautious. Not to mention price is challenging major resistance at 6k. Multiple sell signals are appearing and strength is peaking. If BTC fails here and fails the wedge we may be headed for a test of the structure that developed late last year. This could put BTC in the $4180 range. Right now, breaking 6k is the key to the North.

Good luck everyone! Have fun, trade safely.

May 12, 2019

Note

A beautiful breakout occurred despite the weight of evidence pointing bearish. However, it's important from a risk management perspective, not to completely fomo into this. That being said I believe it is an excellent time to look for buying opportunities. Where there are highs there will always be lows.

In a case like this, if you have missed out on this movement, don't worry. Take this as an opportunity to re-sync with the market. Be patient and wait for the price to find support. Jumping the gun and buying into tall green candles is how you end up buying high and selling low.