Chart illustrations rather self-explanatory. Just the way I see it PROBABLY going in the next few days.
Weak Bull-Volumes and follow-throughs recently. Thin Volumes overall.
Chances are if we close a few 4HR Candles below $5800, Bears and Panic Sellers will probably plummet us to maybe $4900 relatively quickly. Little bounces in-between aren't Trend Changes, remember that.
In Fiat awaiting the Market direction either way.
Stay Sharp.
Weak Bull-Volumes and follow-throughs recently. Thin Volumes overall.
Chances are if we close a few 4HR Candles below $5800, Bears and Panic Sellers will probably plummet us to maybe $4900 relatively quickly. Little bounces in-between aren't Trend Changes, remember that.
In Fiat awaiting the Market direction either way.
Stay Sharp.
Comment:
The little pump caused by positive Tether news today fit almost perfectly in to my yellow squiggly line.
Comment:
Let's ignore the declining Bull Volume on the Daily... Yep, let's just ignore it :-)
Comment:
Note: On my original Post, I meant to write "$4900" in the green text area on the Chart. You'll see I've corrected it in below image. Thanks.
Update: MACD (4HR) has crossed Bearish. The next 12-16 will be make or break. If Bulls don't show up with some real conviction, then Mr Yellow Squiggly Line will be showing up to collect his Debt owed.
Update: MACD (4HR) has crossed Bearish. The next 12-16 will be make or break. If Bulls don't show up with some real conviction, then Mr Yellow Squiggly Line will be showing up to collect his Debt owed.
Comment:
Geez...I wrote "4900" again just above! I meant $5900! Maybe Freudian Slip? Hmmm
Comment:
Well... Mr Yellow Squiggly Line looks like he was kinda psychic...?