BTC Looks to Beat Bears
Just a quick one, more for my records than anything else.
BTC 3.75% pushing up past trend resistance again today. Basically, to me, the following needs to happen for the bulls to run (finally) with some conviction.
1. BTC 3.75% has to push through the trend with volume - multiple D candles with high volume, no tall wicks, and consistent upward trends day to day - however small.
2. BTC 3.75% has to overtake the 200 day MA.
3. These moves probably have to happen before May 1 2018.
4. The price is going to have to retest the trend line as a support level and succeed with conviction - probably before May 4 or 5 2018.
I'm willing to say at this point that if there isn't a move that covers all these bases, the bottom will fall out of this for a longer term bear trend. I'm not talking 8200 either, I'm talking like 5800 and even 4000. Buckle 0.68% up.
*Edited the trendline - it's early, what can I say?
BTC 3.75% pushing up past trend resistance again today. Basically, to me, the following needs to happen for the bulls to run (finally) with some conviction.
1. BTC 3.75% has to push through the trend with volume - multiple D candles with high volume, no tall wicks, and consistent upward trends day to day - however small.
2. BTC 3.75% has to overtake the 200 day MA.
3. These moves probably have to happen before May 1 2018.
4. The price is going to have to retest the trend line as a support level and succeed with conviction - probably before May 4 or 5 2018.
I'm willing to say at this point that if there isn't a move that covers all these bases, the bottom will fall out of this for a longer term bear trend. I'm not talking 8200 either, I'm talking like 5800 and even 4000. Buckle 0.68% up.
*Edited the trendline - it's early, what can I say?
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