In a previous article: "Moment of Truth for Bitcoin: Break Out or Break Down?" we had to see what BTC would do so we can make the necessary changes. Two days later, it's a Break Out!
Now the problem with these runs is that it will now retest the previous resistance turned support. We can expect a slight pullback, unless BTC becomes parabolic, which is good! Don't get me wrong I would love nothing more than a parabolic pull run because that'll bring up all the alt coins!
The fear will always remain in the back of everyone's heads. How's the RSI? What's the market condition? Are the bears going to come in soon? Only time can tell but as a trader, we've got to be flexible in our strategy.
Let's see how BTC behaves in the next few days. I've been adding in my positions in the alt coins in the past few days and it seems to have paid off. I've decided to sell some on strength and be happy with some gains. Let's just enjoy the ride and if this becomes a real bull run, we're looking at solid gains coming from the entire crypto market once again!
