Well the bulls did a U-turn and we retook the 200 MA overnight. Well done bulls. Losing that 200 MA was a bearish event but retaking it shows the market is resilient. Even at these current levels. What needs to happen with this current candle is it needs to close above $45,220. That is the current price I have my eyes on. That 200 MA is not going to give up quietly and we really need to separate ourselves from the support with a good green candle.
Bitcoin looks great if you are a bull but I still recommend setting a stop loss. People always ask me where I set my stop loss. Well I have made a video explaining how I go about setting a stop. And that is typically just below the strongest support around me.. It's not rocket science but it does take some trial and error before you see results you desire... But learning to use a stop loss is a good idea if you can't watch your trades 24/7...
ETH looks good. The resistance at 3200 was breached. We need to close the daily candle above 3200 in order to keep the bulls happy. Bitcoin is in the same boat. The weekend is coming and that usually means low volume. But if we enter the weekend with a decent green candle that could stoke the bulls into making this an exciting weekend. But only time will tell. WTFDIK??
TLDR: Bulls are up early. They need to hold $3,200 (for ETH) and $45,220 (for BTC) to remain bullish.
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