Too many possible scenarios at this point & frankly most involve deeper drops.
If we bounce off 9.2k, good, my last post about H&S within H&S still valid.
If we bounce off 9k, ok, long-term trend line still has some effect.
If 8.8k, the neckline of the old H&S still intact. 0.5 retracement.
If 8.2k, .618 retracement, bad but could recover.
Still heading lower, 20k may be a distant memory. It'll take months to recover (unless whales circlejerking to 15k+).
Anyone has any real insight?
If we bounce off 9.2k, good, my last post about H&S within H&S still valid.
If we bounce off 9k, ok, long-term trend line still has some effect.
If 8.8k, the neckline of the old H&S still intact. 0.5 retracement.
If 8.2k, .618 retracement, bad but could recover.
Still heading lower, 20k may be a distant memory. It'll take months to recover (unless whales circlejerking to 15k+).
Anyone has any real insight?
Comment:
Seems like we now know what was going on: coincentral.com/gold...oniex-400mln-buyout/
10.5k a critical level to watch for. a breakout will bring us to 12k