(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. Pretty simple indicator but rather effective if I do say so myself.)
Good morning again ladies and gentlemen and welcome back to my daily look into the charts. Today I have the 4hr time frame pulled up and we seem to be holding onto 28k for the time being. Things look good for a good strong yearly close. I believe the daily and weekly and monthly all close in approximately 9 hours give or take and a lot can happen in 9 hours. Im hoping we can maintain some of these gains and start 2021 off the right way. We will know soon. Lets take a look at what is going on this morning.
I see we are still respecting the trend. We remain above the ascending support for now and that is a good sign for the bulls. No sign of a pull back yet. I must tell you that I expect a pull back soon but for now Im enjoying the bullish momentum. I will stick with my plan of walking up my stop loss to lock that profit in. This allows me to remain in the trade til we lose support. And that support I have my eye on is the 4hr 50 MA. I dont want to see us lose the support but if we do we may see a sizeable drop.
Just remember there is a big gap below us that would require a drop to 23500 approximately to fill it. So this is one big reason I recommend setting a good stop loss. Those bears are tricky and proper risk management can help you avoid becoming a victim to the bear. With a new ATH of 29300 approximately this means 30k is within our grasp. Perhaps this is where the line in the sand will be. Just like 20k was for all those years. I guess we will find out for sure in 2021.
Looking at the 1 year candles we see this has been one of the best years for Bitcoin ever. We have a low of 4k approximately. And a high of 29300. That is over 7x if you bought at the right time. Pretty impressive for some tulips I would say. This is the last day of 2020 so make sure you set that stop loss and trade with caution my friends. When candles close they can get crazy sometimes and tonight the daily and the weekly and the monthly and the yearly candles close. Lets end 2020 on a strong note and make 2021 our B! &%. I hope you all have a safe and happy new year. Make good choices folks. And always remember... WTFDIK???
TLDR: Happy New Year ya filthy animals
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