It's a gorgeous Saturday here in Las Vegas and I'm sittin' up in my "Man Cave" while keeping my eyes on the Bitcoin charts. 💁♂️
Yeah, I'm also enjoying this "Truly Colima Lime" beverage while writing this post. You guys got to try it sometime! It's sparkling water with 5% Vodka and it only has 100 Calories per can!
With bitcoin behaving "erratically" in the last few months, one must have a drink or two to ease the emotional stress when trading. 😂
Anyways, the current Bitcoin price is around $8,000 as I write this post and I'm seeing that another $1000 move is about to happen this week.
However, the question is... in which way? Up or Down? 📈 📉
All the indicators such as all the Simple and Exponential Moving Averages are pointing to the downside. I've also seen lots of bearish charts from everyone, especially on twitter. 🤦
We all know how Bitcoin is though right? It has a mind of it's own. Are the whales planning a huge pump to the upside just to "fuck" with the majority and trap more bears?
All I know is that a big move is coming... 📊
In my opinion, this is a no trade zone for me. If bitcoin closes over 8,600 (4 hour)... I become short term bullish in the mid 9000's.
On the other hand, if bitcoin closes under $7800 (4 hour)... it would make be believe that we can see Bitcoin around the high 6000's and low $7,000.
I'm planning to take advantage of these levels using leverage by using ByBit. If you don't have an account, you can create one for free.
Regardless of which way it goes, I plan to have my buy prices set with very tight stop losses to get some major gains. 🤑
Can I be completely wrong? Fuck Yeah, I can!
The reality is that 95% traders lose at the end of the day... am I one of them? Not really, I just take all emotions off the table and just ride the wave with a game plan. 😂
What are your short term predictions of Bitcoin, are we going higher or lower? If so, what are you going to do about it? Just watch or take some action?
Keep On STACKIN! 😎
~ Charles Fuchs
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