So it has been awhile since I have posted. Why? Two reasons: 1. Earnings Season. 2. As I had posted over and over again. cryptos were forming a huge base, and as all experienced traders know, when something is breaking out of long base expect a big move. And often the worst thing a trader can do is over manage a position. So now. I have more than doubled my money in BTC and ETH. . .
There are a few warning signs on the daily:
1. The low moves are greater than the up moves.
2. We have broken the 20ma (minor)
3. The AO is showing divergence. (common to see on strong trending moves)
4. Sell volume picking up. (this is probable the most important indicator)
On the bullish side:
1. We still in a strong uptrend as the indicated by the trendline.
2. Still above the 50sma.
3. Still above support.
4. Still have not made a series of Lower Highs and Lower Lows. . .
So until I see the more warning signs I guess I will still hold long, and look for BTC 10K and tighten my stop. . . .
There are a few warning signs on the daily:
1. The low moves are greater than the up moves.
2. We have broken the 20ma (minor)
3. The AO is showing divergence. (common to see on strong trending moves)
4. Sell volume picking up. (this is probable the most important indicator)
On the bullish side:
1. We still in a strong uptrend as the indicated by the trendline.
2. Still above the 50sma.
3. Still above support.
4. Still have not made a series of Lower Highs and Lower Lows. . .
So until I see the more warning signs I guess I will still hold long, and look for BTC 10K and tighten my stop. . . .