Lets go straight to the point on this one guys as this is serious matters.
Someone is being played big time here. Bulls or Bears?
I received messages of bears and bull laughing at my no trade zone comments. Long now or get rekt the bulls say. Short now or cry later the bears say.
But my question to you bulls and bears is, are you being played?
Here are the facts:
- We are currently making the first clean higher highs and higher lows of this over all bear market. 1 point for the bulls. - Even tho we are making clean higher highs and lows, we are still in the 5 of September downtrend as we have yet to break out of its .618 FIB. 1 point for the bears. - We bounced nicely of the .618 FIB of this mini bull run. Meaning we are still in this mini bull run. Which is the first time since the 5 march bear run. 1 point for the bulls. - We are in what could be a massive bear flag. 1 point for the bears. - When in doubt betting with the overall trend is the safe thing to do. 1 point for the bears.
Interesting indicator to watch:
- Macd on daily is about to cross bearish at these low levels for the first time in this bear run. Which could be extremely bearish. We also have to note that it almost crossed previously, but ended up only touching before a massive bull run. Refer to the hearts.
Some crucial levels:
- Breaking down of 6400/ .618 FIB would break the bull run and would lead to a retest of 6200. - Breaking up of Blue trend line around 6600. would indicate the break of a lower high trend giving the chance of testing the previous high levels. - Breaking up .618 FIB and purple trend line would mean that we are crushing the previous bear trend. This would likely lead to a retest of 7400 high.
No trade zone. No confirmation of anything. No lonely trip to liquidation avenue. Bull or bear, don't let yourself get played and tamed.
Feel free to write comments for questions, critics and ideas, follow me on Trading view and twitter for more daily interesting market analysis.
Vinnycrypto.
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we just breached the blue trend line. had a confirmation on the 4H. Looking healthy for a confirmation on daily.
The safest traders would wait for a daily confirmation and retest as support.
Sorry you're getting insults. I see it as no trade and obviously a lot of others do as well, evidenced by the fact that hardly anyone is buying or selling here. I would bet that most hollering "rekt" for not going long haven't bought a dime all season and are still upside down from their 16-18k purchase last year. lol
No FOMO. The trade will come to us in time.
vinnycrypto
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@Jeff_Cryptopop, yup. all good for insults haha. Trading is a no emotion job including getting offended by people with different opinions. Still working on the fomo emotions part of it tho. Good job on waiting, lets trade the confirmation like professionals would.
Jeff_Cryptopop
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@vinnycrypto, Exactly. It's always better to trade a signal confirmation.
No FOMO. The trade will come to us in time.