Analyzing the RSI's from right now they seem very similar to the shown recent times highlighted and circled, not sure whether it is a "false breakout" in the sense that it will return back to ~620 levels or if it's gone for good. I'm currently in a short position unfortunately and want to wait to see if it might return back. Only thing keeping me from cutting my losses and going long is the current lower bollinger band is quite flat and isn't getting the same incline it did on the last real breakout. if it passes USD $665+ however i will probably cut my losses and go long. if it breaks USD ~670 im expecting this to be the final wave 5 which would take us up to 750+ levels by the end of the week
Overall strategy is still long as we're in a nice uptrend, and from reading other's pro analyses, expecting to be 1000+ by end of year.
I know there aren't many tools used here, still a beginner and dont quite understand fib tools and such.
Just some of my thoughts, hopefully you guys can add your opinions too!
Thanks for reading!
TLDR; doubtful whether this breakout will sustain, will go long if it reaches $665 USD and wait for 750.
Overall strategy is still long as we're in a nice uptrend, and from reading other's pro analyses, expecting to be 1000+ by end of year.
I know there aren't many tools used here, still a beginner and dont quite understand fib tools and such.
Just some of my thoughts, hopefully you guys can add your opinions too!
Thanks for reading!
TLDR; doubtful whether this breakout will sustain, will go long if it reaches $665 USD and wait for 750.
Comment:
Price just dipped back down to $625, doubtful this was the "big break" after all.
Comment:
looks like we're in short term bear country now boys ;) good thing i didnt close my short!
Comment:
guess it wasnt the big break after all! hitting major support levels soon so i would start buying now.