After signs of weakness with price falling below my blue line of support I called for cheaper bitcoins. So what happens? A rally which breaks up through the red dotted line of course.. duh! Heres what my chart looks like with that break up through the red dashed line of resistance.
Notice I’ve included momentum indicator, looks like the dips are losing momentum. Which I’ve marked with a blue dashed line. More expensive bitcoins on the way ?? Even if there is, how long will the rally last until we turn bearish again?
I feel a bit like the longer this market indecision lasts the less likely it is that bitcoins will see a significant drop in value. But then again, what do I know I’m just a guy on the internet.
To be honest I just feel like forgetting trading bitcoins, and in fact have stopped making trades. Until I feel like I know the overall market sentiment I’m not buying or selling anything, fed up with constant mixed signals in this market. Is it bullish or bearish ? On such low volume with relative small market cap how can anyone predict what will happen next?