I admit I was a bit bullish in the last idea. Luckily I came to a decision of placing a stop loss at 8500 back then, just woke up panicking but relieved that i placed a stop loss.
Back to the chart, big picture here, 4h chart shows a down trend. We are in a DOWN trend. And I prefer to think that this is a pull back to gain momentum. If that is the case, Fib retracement levels to look at are: ~8400, 8200 and most importantly 8000.
We are hovering at this 8400 level, with the tendency to dump more.
If 8000 is broken horribly then we can confirm the last 3 days have been a dead cat bounce. Hold your cash tight as I will update whenever I see a bounce potential.
Just another analysis from your boy Kidze. Stay safe, traders.
Back to the chart, big picture here, 4h chart shows a down trend. We are in a DOWN trend. And I prefer to think that this is a pull back to gain momentum. If that is the case, Fib retracement levels to look at are: ~8400, 8200 and most importantly 8000.
We are hovering at this 8400 level, with the tendency to dump more.
If 8000 is broken horribly then we can confirm the last 3 days have been a dead cat bounce. Hold your cash tight as I will update whenever I see a bounce potential.
Just another analysis from your boy Kidze. Stay safe, traders.
Comment:
we are still dumping, I am watching the 0.5 Fib level right now
Comment:
There is a bounce but I don't quite believe in this yet, still holding cash
Comment:
still hovering around 8400, most likely bot actions. However we are forming a wedge, any breakout of this wedge will signify a strong short term move.