Would love to know what ET'ers are thinking here. I got long(er) last night at 46.1k aiming for 55K for a shorter-term trade. This is independent of the BTC I hold (not a fan of "hodl"), which I bought sub $1000 Did anybody else make this trade? The chart is pretty clear. Is Anybody fading it? An honest question - if you are one of those people that think this is a fraud/ponzi whatever would you make a shorter-term trade like this despite your bias or just leave it alone?
I think it has broken out of the range sufficiently now to assume it's not a stop hunt. Looking at 52k as an upside target and then 54k
For those looking at the stocks side of cryptos with MSTR, it's up 35 to 508 at time of this writing. Last time BTC was at 47xxx, MSTR was at 567. I expect the run to continue all day and perhaps tomorrow before a pullback, unless BTC continues its climb. In that case, MSTR will continue to follow BTC.
Increasing price/volume/open interest and breaking above first major resistance is all bullish. Likely a pullback soon either before next major resistance level or if it breaks thru the level before possibly turning into support and moving higher. If so much higher. Still, a lot of shaky longs above to get through, who want to get out at breakeven.