Due to the way we are breaking down. I no longer expect this multi year trend line to hold anymore. I do expect a bounce at $4855 to long.
Patterns and trends are meant to be broken and this one will most likely will break. Its only a matter of time.
Stay Tuned. We need to look at the volume profile, and other indicators to pin down where the bottom is.
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Trade active
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I'm looking for a long around the $4,800 area here.
Trade active
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This is the area I'm looking to long. We need to bounce somewhere here.
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Trade active
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The longs played out well. I think we start to see some sideways movement here now. The odd thing is a few whales have taken out a large amount of contracts on shorts. Market is getting dicey here definitely.
I agree with Short here! I still think about Sell for BTC (it's my thought of the previous week - and for now too):
CopyPasteProfit
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@AlexKuptsikevich, Right, we had that bounce come in, rejected 5k multiple times. I think we settle somewhere between $4600-4800 and trade sideways unless shorts get pilled on too high.
aamonkey
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I think we will dip deep now, pump up and go even lower: