[Daily Discussion] - Wednesday, August 11, 2021 Bitcoin Markets |
| [Daily Discussion] - Wednesday, August 11, 2021 Posted: 10 Aug 2021 09:00 PM PDT Thread topics include, but are not limited to:
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| Posted: 11 Aug 2021 04:22 AM PDT (The red and green arrows are the Aurox Indicator and they recommend a buy or a sell. Red indicates where you should sell and green indicates a buy zone.) Well we managed to hang onto the newly found support of the 200 MA and things are still looking bullish overall for crypto. We crept into the 46k range this morning and I expect that the western hemisphere will wake up to a collective sigh of relief. But there is still work to be done! I took some time this morning to look into possible future resistance. And I can see around 50k we see many instances of support and resistance so that is the real next hurdle IMO. But we still have some ground to cover in order to climb to 50k.. RSI suggests a possible pull back but with the recent developments (breaking of the 200 MA) the RSI may take a backseat to fomo buyers. As bullish as any of us may be we still need to remember risk management is key to ensuring your gains stay gains. As long as we remain above the 200 MA we are in decent shape and it may take some time but RSI will catch up if we can maintain these gains. The entire premise of the bull run not being over begins with holding onto the recently gained 200 MA. IMO this is the line in the sand. If it holds we are bullish. If we lose the 200 MA it's not so bullish. ETH looks great and from a technical standpoint ETH is more bullish than even BTC. But if a big move up or down happens for either coin they will follow each other. The ETH market cap is 40% of Bitcoin. That is significant. So yes I do believe ETH can lead the pack. At this point if you ignore ETH you are lying to yourself. ETH is impressive and I certainly gained a lot of respect for the queen of crypto over the recent months. Have a great day! WTFDIK??? TLDR: We need to hold onto that 200 MA. Come on people. RSI says down but my heart says up... [link] [comments]  |
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