Low volume, RSI bearish divergence, tough resistance at 11.5k, Currently Elliot Wave Analysis shows we are due for an ABC correction, Second time we've tried to break this resistance recently and I don't think we have the strength to do it right now, gonna have to try again with more momentum in my opinion... About to hit the same major downtrend line again.
Wouldn't hold any short positions for very long, if you do decide to take any... In and out real quick. Also, tight stop-loss should we break the downtrend line, maybe around 11.7k
Wouldn't hold any short positions for very long, if you do decide to take any... In and out real quick. Also, tight stop-loss should we break the downtrend line, maybe around 11.7k
Comment:
Alright looks like we are dropping now. Although I think we could hit 11k I’m going to close my short at 11.25k on Bitfinex. I don’t want to be caught in a loss with this short so playing it safe. Not going to immediately go long though. Will wait to see what the market does.
Comment:
Closed my short