Hi Traders,
I didn't post any update yesterday but i hope you didn't close your shorts based on emotions.
We said before that each significant number will be supported slightly on the way down, as 19k is being. But a barely $800 move is not a reversal... still on the way to 16k as shown by the indicators/trend remaining.
I should have said before so it would have made for a less stressful day, 20.8k would need to be taken back and closed above for bulls to gain any sort of possible ground, far from that at present.
So what are we seeing now - 19k will break soon enough, just when MM feel is best.
Also it looks like 16.2k is showing up a-lot as a good bottom price so keep an eye out for that when its crashes.
I expect price to over extend lower temporarily (wick) into 16k and pump up to 17.4K+ on closing of the 8h candle so keep that in mind too.
On a positive note for the case of 16k holding, its great to see the indicators in an initial support attempt phase, the proceedings to finding a true support area ie 16k.
Good Luck,
Asset Mastery
I didn't post any update yesterday but i hope you didn't close your shorts based on emotions.
We said before that each significant number will be supported slightly on the way down, as 19k is being. But a barely $800 move is not a reversal... still on the way to 16k as shown by the indicators/trend remaining.
I should have said before so it would have made for a less stressful day, 20.8k would need to be taken back and closed above for bulls to gain any sort of possible ground, far from that at present.
So what are we seeing now - 19k will break soon enough, just when MM feel is best.
Also it looks like 16.2k is showing up a-lot as a good bottom price so keep an eye out for that when its crashes.
I expect price to over extend lower temporarily (wick) into 16k and pump up to 17.4K+ on closing of the 8h candle so keep that in mind too.
On a positive note for the case of 16k holding, its great to see the indicators in an initial support attempt phase, the proceedings to finding a true support area ie 16k.
Good Luck,
Asset Mastery
