RE: Bitcoin (BTC) Morning Update: And So It Begins.....a Breakout!!
This is interesting news. BTC was massively shorted and some big buyers just came along and forced out a bunch of idiots who were going too short, potentially opening the way for a continued breakout - but we're staying within the overall trend lines, so you can't call it a true breakout just yet.
On the macro side, Trump sent out a tweet that de-escalated all of this talk about war in Syria and Russia. The broader markets loved this, and the NYSE crowd went wild this morning.
Furthermore, the upward rally stopped right on time, at the longer-term downwards trend line. This is a key moment in time for BTC. It still has to break through that long-term resistance of the downwards trend line. If it does, it will also probably test it again - soon. If it holds as support, we're off to the races to test $8,500 and $11,800.
Is this a time to buy? If you're not "in" cryptos already and are waiting to move in some cash, wait and watch it like a hawk. This is a good time for short-term trades. If it starts to get another big upwards move, buy in! If it starts to get a big downwards move, wait.
Always ladder in your entries to avoid the buyers remorse!
Exactly! It's always much better to take incremental profits, or losses, as opposed to going "all in" and losing your money. At least then, if it's another bull trap, you can STOP/LOSS without getting bit too hard by the bear. But, if it goes up - great! This is what we would all like to see verified.
Yea lol. We saw shorts lined up and someone came in and wiped them all. Sucker went up 1000 in short period lol! Pretty much someone poured a lot of money in to move the market and liquidate shorts. Crazy shit! I saw the candle this morning, last night I went to sleep at 6700-6800 it was I think and woke up to 7700 rofl. I saw the candle and my buddy told me it went up 1000+ in 30 mins.