Updates On the Market
Updates on the Crypto Market
You must have noticed the Euphoric Arousal in the Market as Alt Tokens have started moving upwards and Pumping at a speed only seen during Alt Season you may be tempted to FOMO as we have seen some FOMO that paid off and some that will catch your hands to the door panel; Be cautious.
BTC is at a moment of Decision across this Zone as we have seen sharp pumps and dumps but I prefer to trade across my own zone; Level to Levels, this Level seems to hold and if I’d long I will put my stop loss below the support line. Are we Back in the Bull Run or is this just a Bull Trap? No one can give decisive answers to that and anyone doing so is merely exercising freedom of thoughts and expression as it is evident that the market is currently retail-driven with Big Movers standing on the Sidelines (Of course except the Alameda guys like Sam). Most of the Buy Backs have been Spot hence we may not see any rapid Dump even in case of a retracement; this is usually the case when we have pumps influenced by Derivatives.
BTC is approaching the 21Days WMA and it calls for caution, if you are Long or Short it is advisable to use Stop Loss, you can start building your Wealth from anywhere - this is better than liquidation. BTC has also maintained the Upper Part of the Bollinger on the Daily Chart signifying an Upward Trend.
I am Macro Bearish and in my Opinion I need more confirmation before I can conclude that we have started another Bull Run. I maintain this sentiment but I also trade Level to Level simply using Support and Resistance Levels.
You must have noticed the Euphoric Arousal in the Market as Alt Tokens have started moving upwards and Pumping at a speed only seen during Alt Season you may be tempted to FOMO as we have seen some FOMO that paid off and some that will catch your hands to the door panel; Be cautious.
BTC is at a moment of Decision across this Zone as we have seen sharp pumps and dumps but I prefer to trade across my own zone; Level to Levels, this Level seems to hold and if I’d long I will put my stop loss below the support line. Are we Back in the Bull Run or is this just a Bull Trap? No one can give decisive answers to that and anyone doing so is merely exercising freedom of thoughts and expression as it is evident that the market is currently retail-driven with Big Movers standing on the Sidelines (Of course except the Alameda guys like Sam). Most of the Buy Backs have been Spot hence we may not see any rapid Dump even in case of a retracement; this is usually the case when we have pumps influenced by Derivatives. BTC is approaching the 21Days WMA and it calls for caution, if you are Long or Short it is advisable to use Stop Loss, you can start building your Wealth from anywhere - this is better than liquidation. BTC has also maintained the Upper Part of the Bollinger on the Daily Chart signifying an Upward Trend. I am Macro Bearish and in my Opinion I need more confirmation before I can conclude that we have started another Bull Run. I maintain this sentiment but I also trade Level to Level simply using Support and Resistance Levels.
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.