Not going to lie, that little $300 had me for a quick second but then I looked at a few things.
Low volume and a failure to sustain the move on the short term. I'm sure some of you may have seen other people flip bullish and opened new positions expecting the rumor to push us past $10k.
The 1hr RSI is nasty as is the possible Double Top. I wouldn't be surprised if the hopium for the bulls has a few opening some overleveraged longs. (Bull Trap)
That said, if the Paypal/Venmo rumor turns out to be true then we can most definitely see sentiment flip bullish as I will too.
However, if we don't get a confirmation in the news by the end of the week then all sentiment and hope will be crushed with a move to the downside.
Do I believe Paypal and Venmo will integrate Bitcoin down the road? Yes
Do I think it'll happen soon? No
I'm still in my short position but that's because I have been. If you're out of your position then be smart and wait for bear volume to pick back up.
Low volume and a failure to sustain the move on the short term. I'm sure some of you may have seen other people flip bullish and opened new positions expecting the rumor to push us past $10k.
The 1hr RSI is nasty as is the possible Double Top. I wouldn't be surprised if the hopium for the bulls has a few opening some overleveraged longs. (Bull Trap)
That said, if the Paypal/Venmo rumor turns out to be true then we can most definitely see sentiment flip bullish as I will too.
However, if we don't get a confirmation in the news by the end of the week then all sentiment and hope will be crushed with a move to the downside.
Do I believe Paypal and Venmo will integrate Bitcoin down the road? Yes
Do I think it'll happen soon? No
I'm still in my short position but that's because I have been. If you're out of your position then be smart and wait for bear volume to pick back up.
Comment:
There we go
