You can see that even in times of chaos ( possibly more so ) you'll find that not just charts and TA will give you the most accurate answer to WHY people make such choices. The chart Shows a rather clear correlation to the $500 marks given in this chart of the last 2 weeks. We are currently in a trend with a $32,500 ceiling, A current temporary support @$29.5k and current bottom line of $28.5k. If you look left you'll find that during this tug of war between the Bulls and the Bears this last week we have at several times found ourselves at the $29.5k line being BOTH resistance and or support on SEVERAL occasions during this last 2 weeks. THe difference now being that we had not previously had such a larger wave within this current trend. IMO i think we now may finally have turned the $29.5k into truly being our updated support and we may now be ready to make this run up into the $36-$38k range before the next leg down most likely follows. I thinks its HIGHLY probable that we could come back down for a flash crash once again to test $29.5k BUT i think the bears are about exhausted here for now UNTIL they get some more ammo from everyone who gets OVER zealous once we get up near $35k ... I'll be looking to average out and begin closing out and closing in stop losses really tight in those ranges. IF it takes off beyond that's fine they'll run but if it dips ill allow thew stops to do their jobs. Stay safe everyone you have options expiring tomorrow which IS the real drama from those with real $. Your just along for the ride.
LONG WINDED I KNOW....BUT I THINK THERES A LOT OF NEWER PEOPLE COMING ALONG THAT NEED LONG WINDED.
I typically short hand so bad im in my own language so this took work, lol .
#NoPatiance
LONG WINDED I KNOW....BUT I THINK THERES A LOT OF NEWER PEOPLE COMING ALONG THAT NEED LONG WINDED.
I typically short hand so bad im in my own language so this took work, lol .
#NoPatiance