... should be *very* telling with regards to which way things will go.
A full 4-hour candle closing in the cloud would indicate significant strength towards the return of the Bull Market.
Further retracement to the 8k level (staying below the cloud) would signal pretty strongly to me that we may not have seen the last of the downtrend and that the recent run up from the 6k level on the 6th is a Bull Trap.
Agree? Disagree?? Please reply and let me know your thoughts. Exciting times!!
~~~ Any/all donations as a sign of appreciation for my insights would be warmly welcomed. I have left my slave-corporate-world-job to do this full time so it's all I've got! =)
Appears BTC doesn't want to play in the cloud yet.
playadoc
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@rbarbaro2, thank you for engaging and commenting - I appreciate that. And yes, totally agree! It's continuing to slide, which is what I'd expect to see, given the indicators.
$8500 and below 8k are both still in the cards for the near future - the cloud is saying the latter is much more likely though.