Are we going sideway now or still in the down trend?
There is no denying that we are in a downtrend currently, so before we start seeing new green candles, we need to stop the downtrend and start moving back up.
Looking at the RSI/MDAC I expect a clearer indication toward Chirstmas, then we will either break the trend or we will continue down.
Unfortunately, there is nothing we can do until we have clearer indication of what the market will do.
There are various reasons why we have to hand tight for the next week or two
Bottom line, we will see again in 1 week, if we have a clear signal that the trend is broken, we might make a call then.
Looking at the RSI/MDAC I expect a clearer indication toward Chirstmas, then we will either break the trend or we will continue down.
Unfortunately, there is nothing we can do until we have clearer indication of what the market will do.
There are various reasons why we have to hand tight for the next week or two
- This is the end of the year, traders are not trading.
- This is the end of the year, institutions are not buying/selling, even whales are not planning much.
- Because it is the end of the year, people are happy to turn off their computers and 'wait and see'.
- After the correction we just had, people actually expect it to last a little longer.
Bottom line, we will see again in 1 week, if we have a clear signal that the trend is broken, we might make a call then.
Trade active:
We seem to have broken the down trend, I have placed buy orders in ALGO, ADA, BTC as I expect the market to keep going up slowly.
While we might see some pullback over the next few days, I feel that the sideway consolidation is now over.
While we might see some pullback over the next few days, I feel that the sideway consolidation is now over.