As far as I am concerned, the larger bear trend is still intact. If we are able to break the major bear resistance (blue line) that would be a good first indicator, but ideally I would like to break ~$9,400 (.618 fib and also would make a new higher high). Don't get swept up in the high doses of hopium going around. Be realistic with your trades and understand that (for me) we have not had a sure sign of reversal yet. Don't get caught with your pants around your ankles like those that bought on 3/6 at ~$11,600.
Remember... TAKE PROFITS ON THE WAY UP. No one ever went broke by taking profits. If this bear trend continues when we hit the blue resistance line, you will have more cash to buy in at the real bottom.
Last thought, the third touch of a trend line is oftentimes a false breakout. Don't be fooled.
Remember... TAKE PROFITS ON THE WAY UP. No one ever went broke by taking profits. If this bear trend continues when we hit the blue resistance line, you will have more cash to buy in at the real bottom.
Last thought, the third touch of a trend line is oftentimes a false breakout. Don't be fooled.