So while the world is watching the WallStreetBets trades and all the BS going on with Robinhood and other brokers manipulating the markets by not allowing traders to buy these stocks and only sell, which as we are seeing will make the prices go down, but the call is now to hold. Oh well, it is what it is. I missed out on the DOGE trade as I was stupid and sold out of my DOGE and went back into BTC on Robinhood, then tried to go back into DOGE and of course Robinhood stopped trading on DOGE as well. So needless to say, we are done with Robinhood completely as well as the traditional markets. Only crypto from now on here at the Coin Logic desk! We were using Robinhood for our dollar based trading due to the ability to also trade some options as well, but that is now changing. All of our dollar based trades will be done on Blockfi where we can earn interest while in the trades.
But anyway, on with our BTC call... So BTC has formed an absolutely beautiful and text book falling wedge which a 70% bullish signal, for us, it is more of a 90% bullish pattern as we have had more wins with these falling wedge breakouts than we have with any other pattern. So, not if, but when BTC breaks out of this wedge, you are going to see some fireworks!
Not just the fact that this beautiful falling wedge getting ready to be broken, but if you look down at the RSI, we are getting a bullish turn around, but more noticeably, the MACD is turning up, right on top of the 0 line and looks to be making a bullish move up into a MACD buy signal!
As it is a little early to call, just be watching for this falling wedge to break out, and if you want to wait, that's cool, wait till the breakout then buy, but as for us, we have already made our play.
None of this is financial advise, just letting you know what we have going on over here!
Trade safe and don't get rekt!
Posted Using LeoFinance Beta