- Bitcoin failed to break resistance between $4050 - $4150. I was stopped out and redid my chart.
- The chart now shows a range between the lowest and highest point. I believe we will retest the lows around the 200 MA.
- If there is a reversal, I believe it'll be in the form of a Double Bottom and is the strategy I was going to employ if we failed to break.
- I'm going to wait until this Weekly candle closes before making a decision but if I were to go in now, I'd wait for the 4hr Bounce to test the EMA's before going short.
- That said, waiting until Sunday allows the market to cool off, the RSI to reset, and it shows me the amount of volume (bull or bear) that occurred this past week. Is it a "weak" dump etc
- The chart now shows a range between the lowest and highest point. I believe we will retest the lows around the 200 MA.
- If there is a reversal, I believe it'll be in the form of a Double Bottom and is the strategy I was going to employ if we failed to break.
- I'm going to wait until this Weekly candle closes before making a decision but if I were to go in now, I'd wait for the 4hr Bounce to test the EMA's before going short.
- That said, waiting until Sunday allows the market to cool off, the RSI to reset, and it shows me the amount of volume (bull or bear) that occurred this past week. Is it a "weak" dump etc