1. If continued sideways movement over next 8hrs - I will buy with tight stop loss
2. If two 4hr candles close around or above 10k over next 8hrs - I will buy with tight stop loss
3. Next 4 hr candle Closes below 9.5K - redraw trends and increased likelihood to wait for resistance to manifest (psychological at 9k, chart at 8.2K) before buying in.
Big correction in Sept was on China news, Big Correction in early Nov was because of Segwit debacle. Current correction due to speculative traders taking profit and psychological barrier of 10K - not a fundamental change in regulation or technology. Question is whether upcoming CME and now NASDAQ news are already priced in around 10k or if the additional capital will further drive up price even given recent parabolic gains. I don't have a good way to model influx of new capital and anticipated influx, so can't say anything with certainty. Curious what others think.
2. If two 4hr candles close around or above 10k over next 8hrs - I will buy with tight stop loss
3. Next 4 hr candle Closes below 9.5K - redraw trends and increased likelihood to wait for resistance to manifest (psychological at 9k, chart at 8.2K) before buying in.
Big correction in Sept was on China news, Big Correction in early Nov was because of Segwit debacle. Current correction due to speculative traders taking profit and psychological barrier of 10K - not a fundamental change in regulation or technology. Question is whether upcoming CME and now NASDAQ news are already priced in around 10k or if the additional capital will further drive up price even given recent parabolic gains. I don't have a good way to model influx of new capital and anticipated influx, so can't say anything with certainty. Curious what others think.