So these formations on the RSI and CRSI are kinda funny looking. Obviously we either maintain this support at $95 ( which there is alot of support on the books right now), or we fall through which could lead to a violent selloff.
If we go down we could see a bounce somewhere in the mid 80's if you guys like to trade every wave; but other than that, i believe 75$ usdt is where will we find the strongest support( i've been feeling extra greedy lately).
If you are greedy for the dip, like me, it will come as long as we don't breakout above the purple trend line.
We have probably started the next elliot wave.
Respond in the comments below if you think you can count the waves.
I wouldn't be surprised if we saw a fakeout above and then a quick drop back below 95 within the next few hours.
If we go down we could see a bounce somewhere in the mid 80's if you guys like to trade every wave; but other than that, i believe 75$ usdt is where will we find the strongest support( i've been feeling extra greedy lately).
If you are greedy for the dip, like me, it will come as long as we don't breakout above the purple trend line.
We have probably started the next elliot wave.
Respond in the comments below if you think you can count the waves.
I wouldn't be surprised if we saw a fakeout above and then a quick drop back below 95 within the next few hours.
Comment:
We are about to find out how strong the bears are right now.
Comment:
The last time the Volume oscillator dipped this low on the 30min, We saw a the beginning of a downtrend from above $120 USDT to the $50USDTs range.
Comment:
There is a ton of support here. If this bullish volume sustains and increases we should see major pumps in the market
Trade active:
If we break above the purple line after we break out of the descending channel, I will close the trade and take the loss.
Trade closed manually:
I think we broke out of the descending channel.