BTC...Breaking out or going south?
(Edited)
BTC is at an interesting point. It is close to all time highs. Today we saw a pullback on the 4 hour chart that dropped to the 30 moving average. This has seemed to home throughout the last 16 hours. One area of concern for the bulls is the 7 sma is close to crossing the 30 sma...this typically is a bearish signal. Thus far, the market decided that wasnt going to happen.
Watch the all time high..if we break out (especially with volume) that is a bullish sign. If, however, it hits the all time high and pulls back, stand back and watch....the market just might give a lower entry point.
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Thanks, interesting analysis. I just bought into bitcoin around 3 weeks ago, and am currently wondering whether to diversify some of it. Any recs. apart from Steem?
I can only tell you what I have.
I am in BTC (around the same time as you), LTC, and ETH. I like ETH as a platform long term that will stay along with BTC. LTC is high on my list because of Charlie Lee....I think he really knows what he is doing and his vision will come to fruition.
I also have a position in a Universal Basic Income called Grantcoin. It is something that one can either get involved by buying (not real liquid), donating to (they are a non-profit) or simply signing up for (it is a basic income so they give coins to everyone for free here is the link: http://www.grantcoin.org/get-grantcoin/basic-income/?referral-code=fbt5zz3bfh ). I would suggest at least signing up to get the coins on a monthly basis...who knows they might be worth something in a couple years.
I also am looking at NEO as perhaps my next venture into alt coins. Filecoin is another that I have thought about. I have to say I dont have a position in either of these so I am not speaking from experience..only what I started looking at.
I sure hope it heads south below $3700 for a reentry point.
Golf clap for you......
Please please please.
I will take a $3600 handle with great joy.
Markets always do what they're supposed to do, just never when they're supposed to do it. So, by that logic, it should be another breakout, haha!! Stupid BTC.
LOL That is true.
And the doom and gloom guys calling for a crash are always right too....right after the bull market they were attacking for years ends.
Nice analysis man, just found your stuff and am looking over the blogs now. Thanks!
Thanks summertooth. Glad you are here.
I hit you up with a follow.