Although my previous analysis still holds true, we are officially in an uptrend (see previous posts), and still are (until/unless we break the previous higher low), this looks like it's finally going to pull back a bit, and establish a new higher low.
So in the short term, I am looking for a pull back here.
If you were looking for a long entry? That might be your opportunity.
And if you are looking to short? Well, I would be very careful, because this is an uptrend, but that is the short term play right now, in my view.
I think we are going to see a dump over the next couple of days.
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Here is a little better look at it:
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Updated look:
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Wow even more bearish divergence on the daily:
As you can see from the last drop though, these drops ave very short lived. Have your shorts on a tight leash, and if you are looking for a long entry, you have to be right up on it. And I would be looking to scale in, and not go all in on one if these quick drops, as I still think a mega drop (that doesn't break the bull trend) is still possible when some whale takes profit.
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I am not too big to admit it. I was wrong.
The bearish divergence is broken:
I was one of the first to call this new uptrend, you see my previous ideas on this. But I thought there would be more of a pull back, instead it has gone parabolic.
Still I have no interesting in jumping on that band wagon now, until there is a real pull back.
We all remember the multiple times, where this thing has crashed 10-15% in less than 15min.
I am not going to be the one holding that bag.
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Not to mention 50% in less than a week the last time it went parabolic.
Sure, this might hit 20K on fomo, but watch out. You better have your stop losses really tight at this point.
I got no skin in the game, just saying. I was the one who called the new uptrend, and we haven't even established a new higher low yet... it's gonna happen.