I know, "IT'S NOT THE TOP YOU IDIOT!", but here I go anyway lol. Easy for me to say that this is a top, being that i'm not invested either way but IMO I do have a unclouded and unbiased judgement
So I'm looking at the 15500 level as a level where shorters shorted - that level is weak and needs to be run. 16200 level looks like a good level to reduce your longs right down or shut up shop completely. Fomo could take it up to OTE around 17700. After this i think we will see the next level around 9000 yuan reached pretty quickly where I will need to re-evaluate, but should see a bounce there
I recon this last pullback will hold for a long time. I'll be joining the long term HODLers when we get sub 5000 yuan.
Stay safe out there and remember greed will bite you in the ass eventually!
So I'm looking at the 15500 level as a level where shorters shorted - that level is weak and needs to be run. 16200 level looks like a good level to reduce your longs right down or shut up shop completely. Fomo could take it up to OTE around 17700. After this i think we will see the next level around 9000 yuan reached pretty quickly where I will need to re-evaluate, but should see a bounce there
I recon this last pullback will hold for a long time. I'll be joining the long term HODLers when we get sub 5000 yuan.
Stay safe out there and remember greed will bite you in the ass eventually!