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Technical Outlook for BTC


Dylan S
Dylan S
March 10, 2021, 1:56 PM UTC

Insight into todays BTC Correction

Every Pump Has a Dump Wah... Wahh..

You cant have massive upward action for a year on end without some corrections along the way. This game takes immense patience on and emotions made of diamond.

This is BTC/USDT on the Daily Chart:

Note that almost no technical damage was done by todays correction. Bitcoin bounced off of the 1st point of demand (Green Line) and is now consolidating above it. Technical Analysis becomes obsolete in areas of over exuberance. It is only when new data begins to form can we once again search for our edges. Many other patterns can now begin to form as we have a healthy correction. There are 2 types of corrections, Time Based and Price Based. The best in my book is a combination of the two; We move down a healthy amount and then spend time re-accumulating in a relative price zone. Think about it!

Sometimes we need to lose the small battles in order to win the war. - Sun Tzu

Stay Strong Friends!!

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