BitcoinLong
BTCUSD update/idea
#BTC #BITCOIN Price Update
🔹 Bitcoin has had ridiculous growth in a short time span and printed its largest monthly candle in history. Market sentiment is extreme greed and the longer it doesn’t rip above ATH, the more people get anxious and fold their hands.
🔹 Looking at the chart on a Higher Time Frame (HTF) we can see that the recent rally may be slightly overextended, but is in no way complete. There is still more juice in it.
🔹 We have already taken profit, and even added some buys during recent dips. We are waiting to see reaction before making any new BTC spot buys. Our current wallet is 70% crypto, it is big enough. The best advice we can give right now is to sit on your hands, and definitely stay away from futures. This is no time to be brave and try to short the top/peak.
🔹 Consolidation under the previous All Time High (ATH) is an extremely bullish signal, and it is probably only a matter of time before the 70k mark is broken again. If it doesn't break and we keep seeing consolidation, altcoins will probably moon instead. These are good, bullish, times.
🔹 Dips should be expected, like the last one from 69k to 59k. These are normal, healthy corrections. We are in a bull market, so they can be heavy flushes. But we are not going down yet it seems. If you are blessed to witness any deep dips, it would most likely be profitable to pick up strong movers because liquidity will get slurped up followed by a fast reversal. Nothing is certain, definitely not crypto, but that is our expectation for now atleast.
🔹 Bitcoin has had ridiculous growth in a short time span and printed its largest monthly candle in history. Market sentiment is extreme greed and the longer it doesn’t rip above ATH, the more people get anxious and fold their hands.
🔹 Looking at the chart on a Higher Time Frame (HTF) we can see that the recent rally may be slightly overextended, but is in no way complete. There is still more juice in it.
🔹 We have already taken profit, and even added some buys during recent dips. We are waiting to see reaction before making any new BTC spot buys. Our current wallet is 70% crypto, it is big enough. The best advice we can give right now is to sit on your hands, and definitely stay away from futures. This is no time to be brave and try to short the top/peak.
🔹 Consolidation under the previous All Time High (ATH) is an extremely bullish signal, and it is probably only a matter of time before the 70k mark is broken again. If it doesn't break and we keep seeing consolidation, altcoins will probably moon instead. These are good, bullish, times.
🔹 Dips should be expected, like the last one from 69k to 59k. These are normal, healthy corrections. We are in a bull market, so they can be heavy flushes. But we are not going down yet it seems. If you are blessed to witness any deep dips, it would most likely be profitable to pick up strong movers because liquidity will get slurped up followed by a fast reversal. Nothing is certain, definitely not crypto, but that is our expectation for now atleast.
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