Crypto has seen a huge correction from the previous all time high a few months ago.
My current thought process for this trade:
Seems like crypto assets have become tied to the moves of the global markets. An easy indicator is to watch the correlation of the SPY as they seem to be moving in tangent, for now....
My current thought process for this trade:
Seems like crypto assets have become tied to the moves of the global markets. An easy indicator is to watch the correlation of the SPY as they seem to be moving in tangent, for now....
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Testing the downward sloping resistance...
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Getting a reaction bounce of support line
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Potentially getting a confirmation of breakout, retesting downward support which was previously resistance.
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Only trade was a short after the 200MA rejection
The potential for a long entry to a new ATH can be a possibility here as well.