I wouldn't buy at these levels. Very simple chart here, but I'd wait for a breakout to 8800 + consolidation.
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Bulls are fighting for the breakout. Need a push now to create a higher high on the daily.
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It’s becoming interesting. Bulls are holding price well and it’s consolidating. I’m somewhat expectig a three green soldiers pattern here that could bring us to 9200 or even 9400. Let’s see! Usually weekends were bearish in the past 6 months. Things are switching.
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Was that a shakeout before heading upwards? BTC is recovering. Alt charts are really hit hard. I’m still hoping for three white soldiers on the weekly. This could mean a long term trend reversal combined with breaking bearish trend. For that we need to go above 8800, better 9200 or even better 10,000 though. I do believe this is a crucial point for the entire market.
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Alright. Another drop that makes things look ugly. Bulls did not rapidly buy back as the previous three tests of 7800/7850. I’m staying on the side line as initially planned. There could be a upwards movement again, but it still could go either way. My gut still says rather up than down, but I may be very wrong.
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I opened a small and certainly risky long position 7300 held. Call me crazy, but I wouldn’t be surprised if we still close the weekly with a small green candle.
SL at 7050.
SL at 7050.
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Should’ve taken the 250 points from 7350 to 7600. Market is going down hard now. I’m staying out for now. Happy trading
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The pace downwards is concerning. It’s almost panic selling now. I don’t see any support. Right now I’m guessing we’ll see 5800 again early this week. Honestly, even though there are signs of reversal I’m not sure 5800 levels will hold this time.