11/05/2019/20:00CET
WOW - this is FOMO pure! What a stampeed has formed on the buy side of orderbooks for BTC! Where is this heading?
BTCUSD Daily on Bitstamp
We are trading at USD 6985 at press time
The last time we were at this level was Sept 5th 2018
The local high on Bitstamp was USD 7044
We seem to have left the 6k resistance in our dust guys
We have stretched way beyond all moving averages now
the 21 DEMA level at the moment is USD 6146. This is ~USD 850 below us or 18%!
If TA has any value at all, then we will have to retrace this crazy rally and retest at least the low 6k levels
I can see that some ALTs are starting to catch a bid. LTC is up
I have been busy taking profits today because every cell in my body is telling me that this will not last, but the memory of this will be set us up for a steady up move over the next weeks. I will be buying the dip in the next days or week.
Is the bear market dead?
Well I think BTC and crypto bears are starting to doubt their convictions. I would say a decent portion of noob bears are wading in at the moment having finally succumb to FOMO. I feek they will get crushed in the sell off.
NOTHING THAT GOES UP LIKE THIS LASTS. The only trick is to pick a point as close to the top as possible. And the same at the bottom.
Think of it, the guys that have the fortitude and faith and buy low really do well!
As always guys, leave comments, have fun and trade safe.
Disclaimer: This post is not financial advice. Before investing any funds do your own research and make your own decisions. Cryptocurrencies are highly speculative. And finally: Do not invest money you are not comfortable losing.
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