Caution advised on the Bitcoin, pronounced beetcoin in foreignvillesteemCreated with Sketch.

in bitcoin •  7 years ago 

Acending wedge!!! Decreasing volume, the rally is running out of steem!

So I think there will be some kind of retest of support. Watch this closely for a breakout one way or the other.

There is a line not too far below at about 12000. I don't remember when I drew that but it's there so it's a thing. It's a possible bounce point. If so that would be a sweet buying opportunity.

I don't plan on shorting, but sometimes I go long an alt coin vs bitcoin, which is sort of shorting, on poloniex. Like I had a bunch of ripple today and litecoin a few days ago.

You would want a pullback on decreasing volume, like the litecoin pullback. You don't want it to advance weekly with decreasing volume, after making an all time high.

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!