This is a key resistance level being tested that has rejected the bulls the last few attempts at bouncing. If we reject from this level we can anticipate 4 hour RSI back in the teens for another leg down to test $6,450 support. With a bull break over the high of the bounce attempt to this point, we will be looking up to the 4 hour EMA resistances next. Bulls trying to pull off a bullish reversal candle on the daily but a long way until the close. Currently playing with small ETH bounce positions but exiting on the first sign of weakness to avoid bear flags. Watch for a volume spike to indicate a break of range highlighted on this chart. BTC shorts continue to climb and some will be forced to cover if we do see bounce continuation.
You must be pretty sad you cannot short it to the ground.
Damn US regulators banning things months after dumb people lost all of their money very quickly.
Fovillain
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@MrRenev, forgive me any ignorance but isn't a short position primarily intended to accumulate more? Therefore the goal is to buy back in at the best possible low? So after shorting to the ground don't traders then anticipate a healthy bounce? Genuinely wondering