Possible Short Term Counter Trend Long Entry Forming
Clearly BTC Core is in a Macro-to-Mid term Downtrend. Whether 6.4k is our pivot out of that fall or not, remains to be seen. Make no mistake, I'd view this as a Counter-Trend Trade, and as such would make sure position sizing was smaller than normal, to minimize risk accordingly. That being said, Core seems to be forming a possible entry point, in my opinion.
A) A Chuva fork has formed, and we currently appear to be holding it. Along with that, the Ichi is Semi-Bullish, needing TK to cross, and price to rise above them to complete a perfect bullish setup.
B) Around 7250 is my point of interest. I'd like to see us close above that Blue line at B, and Hold/Re-Test it from the upside. That'd be my signal to enter Long, for a small Counter-Trend trade.
C) Histogram is lending confluence to this possible Bullish play, it's begun it's turn up, albeit a small turn, a rise none the less.
Again, this is a Counter Trend Long, so I wouldn't go heavy into this move, not this early on. If 6.4k is in fact going to hold, we'll have plenty more opportunities to fill our bags...on the way up. DCA is absolutely legit....but it's best done on the way up, not averaging into losers. Good luck, Trade safe.
A) A Chuva fork has formed, and we currently appear to be holding it. Along with that, the Ichi is Semi-Bullish, needing TK to cross, and price to rise above them to complete a perfect bullish setup.
B) Around 7250 is my point of interest. I'd like to see us close above that Blue line at B, and Hold/Re-Test it from the upside. That'd be my signal to enter Long, for a small Counter-Trend trade.
C) Histogram is lending confluence to this possible Bullish play, it's begun it's turn up, albeit a small turn, a rise none the less.
Again, this is a Counter Trend Long, so I wouldn't go heavy into this move, not this early on. If 6.4k is in fact going to hold, we'll have plenty more opportunities to fill our bags...on the way up. DCA is absolutely legit....but it's best done on the way up, not averaging into losers. Good luck, Trade safe.
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