remlog

BTC retracing healthily, look for a hook and go

Long
BINANCE:BTCUSDT   Bitcoin / TetherUS
BTC is currently retracing from yesterday's pump. Ideally we want to see it retrace to either the bottom of the previous rising wedge or hook off and go from the top of the symmetrical triangle it broke out of (both areas marked in green). A visit back to the 382 would also be a healthy retracement area. However if BTC retraces further, we will have had a false breakout and be well back in the symmetrical triangle, which makes things more murky for us humans as all of the bots around the world that are mostly responsible for trading btc right now would automatically readjust their calculations negatively again. Wait and see how this plays out and don't FOMO or FUD. Good luck.
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