Bitcoin bullish. 16 200 key level to me
Hello.
Few noticiments.
BTC did make really clean 50% retrace from previous rise leg (lower picture), shaking off longs (me included). The bull trend has been really strong after corona dip (sherlock). We can see here that the price is still making higher lows (red marks) which means we are still strong bull. Right now we are in consolidation because there is alot of selling around 20k. I think we will brake that ATH (red line). Hopefully before Christmas or New year.
I am looking for longs as long as we stay higher than (lower picture) the 16 200 level.
Also US Dollars value has been weakening which could start up a buy wave for BTC like it has in the past.
One thing that worries me little bit is that the fear and creed index has been quite high from 6th of november but it doesn't mean that we cannot go up. It can stay high for long periods.
Remember that nothing is certain so use stop losses!
1st mistake beginner traders do is take too big risks.
Regards,
Jebu
Few noticiments.
BTC did make really clean 50% retrace from previous rise leg (lower picture), shaking off longs (me included). The bull trend has been really strong after corona dip (sherlock). We can see here that the price is still making higher lows (red marks) which means we are still strong bull. Right now we are in consolidation because there is alot of selling around 20k. I think we will brake that ATH (red line). Hopefully before Christmas or New year.
I am looking for longs as long as we stay higher than (lower picture) the 16 200 level.
Also US Dollars value has been weakening which could start up a buy wave for BTC like it has in the past.
One thing that worries me little bit is that the fear and creed index has been quite high from 6th of november but it doesn't mean that we cannot go up. It can stay high for long periods.
Remember that nothing is certain so use stop losses!
1st mistake beginner traders do is take too big risks.
Regards,
Jebu
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