Some thoughts on current BTC situation (I do my speculative bets on XBT, so will provide charts of this instrument).
Medium-tern trend is still downwards, as price posts "major" lower highs and lower lows below last weeks vwap. Second part oft last week was basically range from 13000 to 14250
Todays move higher makes local trend look like its time to buy now - price is "stuck" between longer term vwap (red rectangle), and todays vwap (green rectangle).
However in the context of longer term trend i would not buy here, i would rather want to see something like this (see chart below) to go long:
Cheers!
Medium-tern trend is still downwards, as price posts "major" lower highs and lower lows below last weeks vwap. Second part oft last week was basically range from 13000 to 14250
Todays move higher makes local trend look like its time to buy now - price is "stuck" between longer term vwap (red rectangle), and todays vwap (green rectangle).
However in the context of longer term trend i would not buy here, i would rather want to see something like this (see chart below) to go long:
Cheers!