So time is tough. The bad news is that we have to wait but the good news is that there is no much room for further drop down. We still think we won’t drop down below $5800 level but till that time the price can swing and we have to be PATIENT. That is the key. Don’t make any hectic movements. We know that when money is on your bank account (or in USDT) it doesn't earn but at the same time, it doesn't lose their value (except , possible exchange rates and so on). The most important is to observe the market on the macro scale. Still, there is lots of uncertainty on the market and we hope that in September the latest we will feel a bit of optimism. This state of mind is essential when it comes to bouncing up. Remember price is just the reflection/derivative of the people’s mood.
The price cannot be high when everyone grumbles. The price is high when everyone is optimistic.
We will get there – don’t worry. We need an impulse. Positive one.
Let’s get back to the chart.
Although it doesn’t seem so bad it doesn’t seem so good – yet.
First of all, we are nearly $300 dollars below TenkanSen. As we claim, over that level for good (more than 1 bar for sure) there is a time to enter. Not earlier.
Moreover, there too many shadows on recent bars. It seems bulls are out of strength in favour of bears.
took a turn but it is far away from bull’s cross –simply we have to wait.
looks pretty good as it is strongly oversold but… we can stay in such state for a while so don’t be hot–headed.
Weis Indicator says everything. We have a tremendous red wave and only one small green bar. We have to wait for a reversal of such a situation. In other words, supply should be decreasing and at the same time demand should arise.
So Traders. Stay cool. Don’t panic. Time will tell but remember the future is bright .
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What is your opinion? What are your predictions? Do you agree with our analysis?