Just saying, I'm a self learning trader and quite in he beginning...So take everything I say with a little bit of salt.
Iac It helps to look at things in perspective. Especially when you don't have a clear idea where the market might be heading. For instance on this chart I took most indicators out and just kept the Kijun and thevolumes.
I'm especially checking what happened after the height. We can see that every attempt for the price to break the kijun from down to up was rejected, and followed by a dip...First dip brought us from 18k to 6.5k, second dip 11.5k to 6.5k and the third count isn't finished because we did not had the buy spike like in the previous dumps. I believe this spike might not have come due to the bithumb hack....Trust is a important matter and even exchanges...sorry whales....Depend on trust....And when awkward stuff are happening with their pottential partner bull's, they are simply not ready to play billions and risk loosing it...Someone told me this is a dog eating dog market....
So if this is simply the first kijun test like in the previous dip, you can see in the previous patterns that it always looked for support on the previous trendline.
So I believe that we will break the 6.2k line, bounce, getting rejected again by the kijun, then head for the blue trendline where we might get a bounce and somewhere in August-September with all the FUD news that's gonna come with the coming MT Gox creditor ruling and then have a complete sell-off bursting the bubble.
The big question is how low can the market go when fear will have taken everyone in it's grasp....
Iac It helps to look at things in perspective. Especially when you don't have a clear idea where the market might be heading. For instance on this chart I took most indicators out and just kept the Kijun and thevolumes.
I'm especially checking what happened after the height. We can see that every attempt for the price to break the kijun from down to up was rejected, and followed by a dip...First dip brought us from 18k to 6.5k, second dip 11.5k to 6.5k and the third count isn't finished because we did not had the buy spike like in the previous dumps. I believe this spike might not have come due to the bithumb hack....Trust is a important matter and even exchanges...sorry whales....Depend on trust....And when awkward stuff are happening with their pottential partner bull's, they are simply not ready to play billions and risk loosing it...Someone told me this is a dog eating dog market....
So if this is simply the first kijun test like in the previous dip, you can see in the previous patterns that it always looked for support on the previous trendline.
So I believe that we will break the 6.2k line, bounce, getting rejected again by the kijun, then head for the blue trendline where we might get a bounce and somewhere in August-September with all the FUD news that's gonna come with the coming MT Gox creditor ruling and then have a complete sell-off bursting the bubble.
The big question is how low can the market go when fear will have taken everyone in it's grasp....