So as you can see on the Weekly we've had nearly 2 months of Green Candles. Bull volume has been steady but dropping as we push higher (bulls are tired) on the lower timeframes.
The Bitcoin halving is in 5 days. I fully expect a dump (buy the rumor, sell the news).
I've marked the support zone where I believe we will see the first real bounce. The "Oh Shit" zone is $6k.
What I've been doing:
- I haven't been trading as there's not enough volatility yet imo. I've been just accumulating on the drops so when the volatility comes back like in 2017 I'll have more capital to play with.
- My buy signals have usually been after the big dumps about 3 or 4 days after. You tend to see support starting to build and the RSI shows a bull div. (I use the Daily).
My advice if you're accumulating like me is to just check the charts every Wednesday and on Sunday for the Weekly Close and have cash on hand.
Sidenote:
- If you look on the Daily the RSI is starting to show the signs of a bear div.
The Bitcoin halving is in 5 days. I fully expect a dump (buy the rumor, sell the news).
I've marked the support zone where I believe we will see the first real bounce. The "Oh Shit" zone is $6k.
What I've been doing:
- I haven't been trading as there's not enough volatility yet imo. I've been just accumulating on the drops so when the volatility comes back like in 2017 I'll have more capital to play with.
- My buy signals have usually been after the big dumps about 3 or 4 days after. You tend to see support starting to build and the RSI shows a bull div. (I use the Daily).
My advice if you're accumulating like me is to just check the charts every Wednesday and on Sunday for the Weekly Close and have cash on hand.
Sidenote:
- If you look on the Daily the RSI is starting to show the signs of a bear div.