Watching BTC 8-Week MA and Short-Term Triangle Formation
Let me first apologize if the audio is not good. I forgot to plug in the microphone.
Bitcoin went through a major correction last night and now we are looking to see what is going to happen in the future.
The eight week moving average is going to be a major milestone as we close the weekly candle in the next six hours.
If we close below the eight week moving average, we could be looking at going to the 20 week moving average for support.
The best thing to do right now is to make sure you have some tether in place to make some by orders at aggressive support levels.
As we saw last night, we can use past data in support levels to judge where we should be buying.
The biggest lesson in this is to have stop losses in place and to take profit when things are up so that you have the available resources to buy when things go down.
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DISCLAIMER: This is NOT financial advice. My content is meant for entertainment and general information purposes only. It's only my opinion and should not be taken as financial, legal or tax advice. I'm not a licensed financial planner or investment advisor. Cryptocurrencies carry a lot of risk and you could lose everything when buying and selling them. I will not be held responsible for any losses or gains as a result of my content. Please DO YOUR OWN RESEARCH before making investment decisions.
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Bitcoin went through a major correction last night and now we are looking to see what is going to happen in the future.
The eight week moving average is going to be a major milestone as we close the weekly candle in the next six hours.
If we close below the eight week moving average, we could be looking at going to the 20 week moving average for support.
The best thing to do right now is to make sure you have some tether in place to make some by orders at aggressive support levels.
As we saw last night, we can use past data in support levels to judge where we should be buying.
The biggest lesson in this is to have stop losses in place and to take profit when things are up so that you have the available resources to buy when things go down.
===================
DISCLAIMER: This is NOT financial advice. My content is meant for entertainment and general information purposes only. It's only my opinion and should not be taken as financial, legal or tax advice. I'm not a licensed financial planner or investment advisor. Cryptocurrencies carry a lot of risk and you could lose everything when buying and selling them. I will not be held responsible for any losses or gains as a result of my content. Please DO YOUR OWN RESEARCH before making investment decisions.
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