BTC Update! Bulls hold support and rally higher!
Two charts ago we were anticipating an eventually break above $5665 for BTC and had been watching the 12 EMA support. Then came the negative tether news which sent BTC down, losing the 12 EMA support but managed to hold the higher lows in tact on daily chart by $18. Those have continued to hold and last chart we were watching to see if hourly and 4 hour charts could regain their higher lows and higher highs to start the march back up or if the bears would reload. Bulls win again here and BTC back up to new highs for this year which is always nice to see. I continue to have my box of heavy resistance up ahead that I laid out a few charts ago.
Personally I did enter position on an Alt coin a few days ago on 4/29 which was with ONT. Thus far its given about a 10% return despite not being one of the stronger alts in recent days. I have sold some just to lock up a bit of profits and will ride higher lows on hourly or 4 hour chart for remainder of position. I chose ONT simply due to what appeared to be a bottoming candle on hourly chart on 4/29 where bears drove price down to $1.00 (nice round psychological number) and bulls showed an extremely high bull volume come in. I began layering in buys over the next several hours and filled around $1.05 for an average buy and was then able to initially use $1.00 as my stop loss until the bulls got things moving up higher. Overall happy with the trade and will see if ONT bulls can start a march towards yearly highs again.
Just My 2 Sats!
Personally I did enter position on an Alt coin a few days ago on 4/29 which was with ONT. Thus far its given about a 10% return despite not being one of the stronger alts in recent days. I have sold some just to lock up a bit of profits and will ride higher lows on hourly or 4 hour chart for remainder of position. I chose ONT simply due to what appeared to be a bottoming candle on hourly chart on 4/29 where bears drove price down to $1.00 (nice round psychological number) and bulls showed an extremely high bull volume come in. I began layering in buys over the next several hours and filled around $1.05 for an average buy and was then able to initially use $1.00 as my stop loss until the bulls got things moving up higher. Overall happy with the trade and will see if ONT bulls can start a march towards yearly highs again.
Just My 2 Sats!
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