Previous post about $BTC -->> Click Here
Congratulations everyone!! #Bitcoin has broken out!! Such a great news right?
But there are one/two things that are making me worried.
The first one is volume. On the second chart, we can see a similar breakout occurred previously but the volume is decent in Binance and the volume was super in Coinbase (On the third chart). But in today's breakout, we can see almost half the volume in comparison to the past one in Binance. It was worse in Coinbase. There is almost no volume. #Coinbase and #Binance are the top two markets and if you don't find any volume here where you will find it? Nowhere.
The second thing is Resistance at 64.5K. If $BTC continues to pump without volume, it won't be able to break that heavy resistance.
The Third one is EMA 50 (The First Chart). #BTC is being traded below 50 EMA. It is working as a resistance at 64.5K. This pump just can be for a bearish retest.
The Fourth one is Halving. If halving does a "Buy the rumor, Sell the news" event, it will be a horrifying event.
So, what I'm doing? Chilling out nothing else lol. My plan is simple. BTC halving left only 1 Day. I will wait and see if it can break out 64.5K with a good volume and stay over 64.5K until after the day of halving, I will be in and buy my coins. I'm not willing to long anything against 4 Bearish things.
Again these are my thoughts and decisions. Not Financial Advice.
