BTCUSD: Weekly updateI've reviewed the chart and there is a chance to rally to loftier targets, but as I said in my previous publication, fundamentals present a challenge to a stable non volatile uptrend. I don't discard a decline to test support below, and would welcome it with open hands to add to longs.
In any event, we will be watching it, and ready to add up to 80% of the crypto account funds to BTC longs, using margin if the opportunity arises.
For the time being, I reccomend holding your long term long positions, preferrably off exchange for the most part, except for some collateral needed to trade at exchanges. The weekly targets are significant, and will be confirmed after today's daily close.
In the short term, we can easily test the key level above, but it wouldn't surprise me if we get a drop after doing so. So, better do nothing and watch closely.
Cheers,
Ivan Labrie.
