Market sentiment has been in full bull mode since it appeared as though support was found. I disagree.
$9800
$7500
$6500
This will take possibly weeks to play out but for now, this is where I stand.
$9800
$7500
$6500
This will take possibly weeks to play out but for now, this is where I stand.
Comment:
Looking at the chart in log, shows an obedience to the channel.
Comment:
Still on track
Trade active
The RSI is pulling back and were very close to seeing our "Red Dot" indicating the buying market is weaker then the selling market.
If we fall back into the shorter term channel, and cross the middle (thin red line), which would mean we've dropped through the sideways support from 2 days ago, it would mean we are still on track to testing the levels mentioned in the original comment.
It seems most of the community is sold on the bottom been 10k. The order books are now nice and full for our much more experienced and bigger peers to take the last of their profits.
The bottom is close.
Best of luck.
- Calem