Bitcoin, keeping it simple update
Yesterday I posted on bitcoin and how it broke down through the 50 day moving average a few days ago and then yesterday got rejected at that same indicator (arguably the most used indicator of them all, the 50dma).
Today you see that just moments ago as of writing this at 8am Los Angeles time we attempted to close the 4hr candle above the support level I draw in as the bottom green line but failed to do so within the last 10 mins of the candle and hour closing.
I continue to be longterm bullish on btc but she is acting as if she really wants to breakdown. Again, my largest holding is btc but for the long term, not a good trade opportunity in my opinion.
My trading account is currently all cash and I am looking to play an oversold bounce using ltc
LTCUSD
I will be watching bitcoin, and when it looks like she wants to raise I will play the bounce in bitcoin using litecoin. Litecoin seems to have a better setup and should gain on btc on any oversold bounce.
Good luck to all
BTCUSD
Today you see that just moments ago as of writing this at 8am Los Angeles time we attempted to close the 4hr candle above the support level I draw in as the bottom green line but failed to do so within the last 10 mins of the candle and hour closing.
I continue to be longterm bullish on btc but she is acting as if she really wants to breakdown. Again, my largest holding is btc but for the long term, not a good trade opportunity in my opinion.
My trading account is currently all cash and I am looking to play an oversold bounce using ltc
LTCUSDI will be watching bitcoin, and when it looks like she wants to raise I will play the bounce in bitcoin using litecoin. Litecoin seems to have a better setup and should gain on btc on any oversold bounce.
Good luck to all
BTCUSD
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