i have highlighted in the yellow boxes the october dump/bounce with our most recent dump/bounce.
the october rally off the bottom took 4 days to hit the daily center BB which is also the 20 day sma. then it consolidated and made a run at the top of the bb failing slightly below it. it did all of this on sideways volume. it also had a bullish div on the rsi in the oversold region showing lower low in price and higher low in rsi. (green trend lines )
our current rally has taken us 6 days to hit the 1 std deviation daily bb. the center daily bb is at 1547 which is a long way away. this "rally" has been on decreasing volume. its also formed an ascending triangle that already has broken out to the downside on smaller 1h and 4h timeframes, however there are occasional fake outs to the down before going back inside the triangle. This also has a hidden bearish div on the rsi with a lower high in price and higher high in rsi. (green trend lines)
ive already shorted anytime we go above 1300cny, it feels like whales are filling shorts. leave enough margin to take heat in case we bounce up to OTE short zone in red which will be met by HEAVY selling as the daily bb is falling down and a ton of bagholders just above 1600cny.
im FOHO selling (fear of hodling on)
the october rally off the bottom took 4 days to hit the daily center BB which is also the 20 day sma. then it consolidated and made a run at the top of the bb failing slightly below it. it did all of this on sideways volume. it also had a bullish div on the rsi in the oversold region showing lower low in price and higher low in rsi. (green trend lines )
our current rally has taken us 6 days to hit the 1 std deviation daily bb. the center daily bb is at 1547 which is a long way away. this "rally" has been on decreasing volume. its also formed an ascending triangle that already has broken out to the downside on smaller 1h and 4h timeframes, however there are occasional fake outs to the down before going back inside the triangle. This also has a hidden bearish div on the rsi with a lower high in price and higher high in rsi. (green trend lines)
ive already shorted anytime we go above 1300cny, it feels like whales are filling shorts. leave enough margin to take heat in case we bounce up to OTE short zone in red which will be met by HEAVY selling as the daily bb is falling down and a ton of bagholders just above 1600cny.
im FOHO selling (fear of hodling on)