We retraced over 50% from 20k, make no mistake, we are in a BEAR TREND and recovery to 20k may take MONTHS....
Currently trading ONLY to accumulate fiat and staying away from entering into new positions, anticipating a further breakdown after hitting these targets.
-So option 2 from my previous chart happened, the triangle broke down and $7600 was the immediate bottom. (always be cautious of a further breakdown if this bounce turns into a brear flag. which can certainly happen, less likely however)
-Next levels are as shown, I have sell orders at all three levels, biggest being at $12500 where I will clean up 70% of ALL of my positions into FIAT.
-If we see a dead cat to 15k which is certainly possible, I will take almost everything off the table and probe a short.
Currently trading ONLY to accumulate fiat and staying away from entering into new positions, anticipating a further breakdown after hitting these targets.
-So option 2 from my previous chart happened, the triangle broke down and $7600 was the immediate bottom. (always be cautious of a further breakdown if this bounce turns into a brear flag. which can certainly happen, less likely however)
-Next levels are as shown, I have sell orders at all three levels, biggest being at $12500 where I will clean up 70% of ALL of my positions into FIAT.
-If we see a dead cat to 15k which is certainly possible, I will take almost everything off the table and probe a short.
Comment:
Looks lke volume is really dying down... Watching closely for a potential breakdown. Targets still in play
Comment:
breakdown. next level to watch would be 5500-6600