According to the last bounce we had, bitcoin seem strong and patiently going up. Before the bounce i've many doubts that the bottom is in or not. But it is early to come a conclusion before we see "the decline"
Almost all bounces had fast and capitulation style declines last year. But this time it seems it would be different. Price doesn't run up like crazy, and declines are so weak and having a running flat correction which leads small pullbacks.
My view now is the bottom is in almost %90. But this is trading, anything can happen. Also note that spx and btc are correlated. They started the correction together and it seems they end it together. Be carefull on spx if you trade btcusd
Almost all bounces had fast and capitulation style declines last year. But this time it seems it would be different. Price doesn't run up like crazy, and declines are so weak and having a running flat correction which leads small pullbacks.
My view now is the bottom is in almost %90. But this is trading, anything can happen. Also note that spx and btc are correlated. They started the correction together and it seems they end it together. Be carefull on spx if you trade btcusd
I believe trading is a dynamic organism, and dont folow static plans. So i try to measure momentum and trade level by level. My trading setups are trad-able only in my style. I do not advise you to follow my trades, but only see a different perspective
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.
I believe trading is a dynamic organism, and dont folow static plans. So i try to measure momentum and trade level by level. My trading setups are trad-able only in my style. I do not advise you to follow my trades, but only see a different perspective
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.