Just a quick update on Bitcoin, as a number of you are asking....
On the Daily, we are still in an UP Trend Higher Highs and Higher Lows.
We don't know where this current low will end so we must watch to see if it breaks the Up structure.
Looking at the 4 hour chart, we appear to have support @ around $4,200-4300. The question is will it hold?
Medium term (next couple of months) I remain bullish on both Bitcoin and Ethereum and see this as a buying opportunity for both coins. Until we see a structure break that's when my bullish view will change.
We fell a mere $20 short of our T3 target! T1 and T2 was easily achieved and half profits were gained between T2 and T3 as our trailing stop was hit.
This was a highly successful trade.
Hope this helps.
Sean Vengan
Profesional Cryptocurrency Trader and Trading Educator
On the Daily, we are still in an UP Trend Higher Highs and Higher Lows.
We don't know where this current low will end so we must watch to see if it breaks the Up structure.
Looking at the 4 hour chart, we appear to have support @ around $4,200-4300. The question is will it hold?
Medium term (next couple of months) I remain bullish on both Bitcoin and Ethereum and see this as a buying opportunity for both coins. Until we see a structure break that's when my bullish view will change.
We fell a mere $20 short of our T3 target! T1 and T2 was easily achieved and half profits were gained between T2 and T3 as our trailing stop was hit.
This was a highly successful trade.
Hope this helps.
Sean Vengan
Profesional Cryptocurrency Trader and Trading Educator