Price action traders • Buying Bitcoin dips since 2016 We teach normal people not to get liquidated. Not your financial advisor
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Often, we have a culture where we insist that our name must stand alone on a business, forgetting that collaboration can still get it right. Building alone is not always a sign of strength but sometimes, merging ideas, resources, and skills is the smartest move.
Something broke last Friday on the commodities markets. Silver and Platinum went up by more than 10% on a single day. Markets have been giving these type of returns during excessive upwards runs historically (in the 2010's or 1970's). However, it doesn't last. Next week is likely going to be a volatile week for commodities. Brace yourself.
$BTC hits the lowest level against Gold in the recent two years. On the weekly timeframe, it hits the lowest RSI since the bottom of Bitcoin in 2015, 2018 and 2022. On the daily timeframe, the bullish divergence remains valid, indicating that, even with the recent rise of Gold, a reversal on this chart is on the horizon. That doesn't automatically imply that Bitcoin is going to the moon, it does imply that Bitcoin is likely yielding a better return than Gold. Given that Bitcoin is more volatile than Gold, the only case to build is around a thesis that Bitcoin goes up and Gold consolidates.
$BTC Update Should I stick with my plan and trade the down move? Risking only some profit of my longs. Not too big.