Expectations for next few days BTC/ALT Retrace opp
Diupdate
Well it's been an exciting few days and very interesting in terms of TA which has proven its weight in gold over the last week... 21 grams? I got a little caught up on the FOMO and mucked up a small trade - Binance refresh rate is appalling. Despite that, for a novice I have day traded the channel quite well (purple line) and expect this to hold up to point B, possibly point A.
- I suspect we will retrace to the 0.5 Fib, perhaps higher. Either way, unless the picture changes I'm holding FIAT for the immediate term with small trades on ALTs - no margin in BTC
- Still neutral until past £9k.
- Longer term I expect BTC to hold the range for a while at a more gradual pace - give time for the news companies to spread the positive word to try get granny's cash rolling back in and tackle the huge resistance which will not consider this a bull run until BTC is past 9k and short stops are blown.
- I then expect another drop mid-May/June - not so deep but enough to cause concern so traders can sell off their ALTs. I'm certainly not going to consider margin trading any time soon ;)
Enjoy.
HF
- I suspect we will retrace to the 0.5 Fib, perhaps higher. Either way, unless the picture changes I'm holding FIAT for the immediate term with small trades on ALTs - no margin in BTC
- Still neutral until past £9k.
- Longer term I expect BTC to hold the range for a while at a more gradual pace - give time for the news companies to spread the positive word to try get granny's cash rolling back in and tackle the huge resistance which will not consider this a bull run until BTC is past 9k and short stops are blown.
- I then expect another drop mid-May/June - not so deep but enough to cause concern so traders can sell off their ALTs. I'm certainly not going to consider margin trading any time soon ;)
Enjoy.
HF
Catatan
Arriving at point B - currently testing the channel. A lot of folks calling short, some calling Moon as ever.- From what I've seen there has been little interest in trying to break the 9k as yet. Perhaps the correction at B will occur.
- Reading the indicators the daily suggests caution but more local ones seem more positive so i suspect a short correction if one happens.
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