We’re in a very clear pattern right now.
Resistance trendline still intact and not been broken.
Support trendline still intact and not been broken.
Until either happens, we’re not going anywhere, and if you’re thinking this will go on for ever and you can’t handle it. Have a cup of tea, zoom out and look at the bigger picture.
Trade safe and enjoy!
The Colonel xxx
Resistance trendline still intact and not been broken.
Support trendline still intact and not been broken.
Until either happens, we’re not going anywhere, and if you’re thinking this will go on for ever and you can’t handle it. Have a cup of tea, zoom out and look at the bigger picture.
Trade safe and enjoy!
The Colonel xxx
Comment:
So to keep people in the loop:
Support trendline has broken.
Support areas to keep an eye on:
6600 range is first area to test as 6800 not holding too well right now.
6000 range should offer very strong support.
Should we break below that I’m afraid it might get very messy. I’d imagine there will be some panic selling and we might see some ugly numbers.
But that really provides some great buying opportunities so every cloud has a silver lining! ;)
Support trendline has broken.
Support areas to keep an eye on:
6600 range is first area to test as 6800 not holding too well right now.
6000 range should offer very strong support.
Should we break below that I’m afraid it might get very messy. I’d imagine there will be some panic selling and we might see some ugly numbers.
But that really provides some great buying opportunities so every cloud has a silver lining! ;)
Don’t forget to dollar cost in if you are buying up BTC here. Bottom hunting is a mugs game and when we do find some strong support it will likely rebound very hard so you’ll be left chasing the rally if you try to be too greedy.