The two hour chart appears to have given us the 9 sell signal at the top with a perfect 1-4 candle correction and a very bullish hammer candle. also RSI appears to be following a trend-line and has not exited the bullish zone since the bullish divergence occurred the other day. Also important to not how many people are just sitting in tether waiting to re-enter at 6000 and 5000. The bear trade may very well be over crowded but we are getting ahead of ourselves. As of now we need to test the top of the channel and then reassess the situation. As of now I believe that there is a 1-4 day move up to either cool down the RSI or get ready for the next leg up. Lots of people are in pain right now...
Buy when there is blood in the streets... even if its your own.
Good Luck and God Speed Gents,
Mr. Manbearpig
Buy when there is blood in the streets... even if its your own.
Good Luck and God Speed Gents,
Mr. Manbearpig
Comment:
Gas is running low at the top of the channel with decreasing volume and a bearish divergence on the 1 hour double top at 7421. Dont be afraid to take profits. Remember we are still in a down trend over all.