BTCs current movements are perplexing as it should be moving downwards towards 7800 and not moving upwards. it seems as if its working backwards . very strange ,
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Back on track - Bear flag dropping BTC down to 7674 :
@mattwhite23, should bounce from around 7.5 if not its going to 7.1
mattwhite23
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Is 9k call still in play?
mycotoxin
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@mattwhite23, im just as confused are you are , As all indicators point to the movement as being downwards and not upwards .
mattwhite23
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@mycotoxin, ya I exited my position that I got in at 7.6. I see us going down to 5.6 region. Thoughts?
mycotoxin
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@mattwhite23, the challenge is BTC does not do the scheduled drops at once. it does them partially and then wanders off higher.
This makes us think its going higher and just as we buy-in it comes back down and completes the next portion of the drop.
What i do if its doing this behavior is buy-in and sell at the resistance points and when it drops buy back in - This way i don't get trapped .
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Note: if BTC does exit out the top of the triangle then this is a strong sign that its moving higher and im all in,