BTC: Changing Tides

Trend Lines: Technical analysis is built on the assumption that prices trend. Trend Lines are an important tool intechnical analysis for both trend identification and confirmation. A trend line is a straight line that connects two or more price points and then extends into the future to act as a line of support or resistance.

BTC has been in a bearish trend since early January, but that has changed today. For the first time after a long time we are seeing BTC price break past the resistance from trend lines. This is a bullish sign and early signal for trend reversal. 

Should we FOMO in into BTC now?

It is very easy to FOMO in into the market when you see bounce of these kinds but after the prolonged down trend, it's very unlikely that the price will run away from us. So we don't need to FOMO in into the market and wait for clear entry point. BTC will form lower high and a higher low (likely round 7800) before trending upwards.

Hope we all get rich together!!!

Disclaimer : Only invest what you are comfortable to lose. This is true for any investment. This post is my personal opinion, do your own research before making any investment decisions. If you make any trades after reading this post, it is completely your responsibility. I am just a guy with an opinion like everyone else on the internet.