From your view, one may say that this week price will go up slightly and will pull back down. From the view of SP500 relationship to BTC, it seems about right since the stock market is also cautiously moving upward amid bad news all around. From the big picture, it seems the bear is not over yet but in 1 week short term, one may have a chance to to make a quick small gain like $500 to $1000 gain depending on how many coins you got
Trading-Guru
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I will be posting more of these regularly, so follow me to find out about great trading opportunities
Trading-Guru
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How would you have charted this? Feel free to post a link to your own idea here as well
aristotle05
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@Trading-Guru just curious about why you didn’t you start your trend lines from the first candle after the dump?
Trading-Guru
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@aristotle05, Just to make sure we're on the same page... you mean like this?
Trading-Guru
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@aristotle05, And thanks for the comment :) I always like to learn new things so definitely open to discuss this
aristotle05
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@Trading-Guru, I have a line going up at a more steeper angle tagging 2 or 3 bottoms,which then after the 7109 - 6660 drop it flips support into resistance. Funny how different everyone sees things :-)
Trading-Guru
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@aristotle05, Oh interesting! I tried to make it work like how you explained it to me just now, but couldn't really get it to work. Can you send a screenshot maybe? So your trendline acts both as support and resistance? Like an S/R flip?