Okay so we lifted ourselves past the 28 day shit rope on the 4 hr chart and what we have now is a solid, dark, 28 day chocolate rope to hang onto with this 12 hr chart. Just kidding. It's still a greasy shit rope. Look at the piss arrow. This rope has already been keeping us down on the 12 hr chart from June 18th to June 21st and I believe it will do it again. This volume isn't good enough in my opinion. To continue this fake out we will have to go above the prior high from this last flush around 6340. Even if it does I am probably going to stay out as I have for all the other fake outs. We need a capitulation to reverse this market, not a little fart to the upside after some constipation.
Agreed. I've already seen this with a couple of alts recently, especially the ones that are known to run wild. I still believe we'll see a drop to the low 5XXX around the 4-7th. Cheers!
No FOMO.
floatingturd
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@Jeff_Cryptopop, My thoughts are about the same. The last half dozen or so fake outs have taught me this is only temporary.
OSx28
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Broke the brown poop line, what are your thoughts on that?
floatingturd
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@OSx28, We aren't out of the shit woods yet. We are still in an overall downtrend. I was around for the last half a dozen fake outs. This move came off of a consolidation after a down move. It's a short term move, not a market reversal. I'm still out.
OSx28
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@floatingturd, That's what I thought. I've only been into crypto for a short while but I've already seen stuff like this a a few times before. Definitely looked like a fakeout to me, just wanted to know your thoughts. thanks for further reaffirming it.
floatingturd
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@OSx28, I have only been in this for 6 months myself, so don't forget that I could certainly be wrong. Nevertheless, I am sticking to my guns on this one.
No FOMO.