I am still flat on my trading account for BTC. If we break down here, a move down to the $10,000 area seems likely. RSI is weakening quite a bit. I won't go long again until we start moving up to the upper edge of this flag. It is almost worth a short here... hmm...
The chart will follow your "squiggles" if there is enough space between the lines. The RSI is doing exactly what it did before the previous impulse. Go short here then if your "flag" is breaking down and you've identified H&S in BTC and alts - and good luck. @london55555 @VladimirBashovski .
Sherem
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@dRends35, Long time no see, how is it over there?
dRends35
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@Sherem, Good thank you. Adding to positions at 10.6k. Looking for BTC 16k approx. We'll see how it goes.
dRends35
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@Sherem, Well that worked out well LOL - good short if you took it
Sherem
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@dRends35, haha! I didn't, I moved to cash for the time being instead of flopping back and forth on a short. Still have my alt hodl bag, but I am all cash in my trading portfolio right now and my major's hodl bag.
Will be interesting to see if this thing goes to 6k. We should get a bounce at 9.5k, but if we don't get follow through, no bueno.
dRends35
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@Sherem, For me I'm watching the Nasdaq, when/if it recovers I'm back in crypto. I'm guessing NDX will be green next week. If it has a final leg up it may well be a rip-your-face-off rally and Bitcoin in tow. This could be it right now of course, but can you see and hear the big bomb finale fireworks, and is the fat lady singing - not for me just yet. But I might be wrong. We'll see.
Anyhow regardless of squiggles on charts - I was wrong and you were right on this occasion.