Volume is getting lower and there is bearish hidden divergence on RSI, and RSI is over 80 , that is not good at this moment. Could be a retrace to lower fib levels. Im aiming a short at 2.02 or 2.1
Not financial advice. Just an idea. Be careful at this point. Dont fomo in and do your own research.
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What are your thoughts at this point ?
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Stop loss at 2.65 for a short,
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a small possibility for it to go higher to 2.8 in the next hours, but if that happens , there is a huge resistance at that level, and i believe it would still have correction down from that point to 2.1 - 1.9
Take caution with your trades, but this ship is not going a lot higher at this moment. Needs a healthy correction to continue
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it reached 2.8, have to wait if it breaks it or gets rejected.
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I have adjusted stop loss accordingly higher , i still think pullback is inevitable and retrace to 1.9 - 2.16 at least. Best of luck to all, and congrats to those who gained from this massive pump!
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RSI and MacD on daily and 4hours is still over extended and needs to cool down.
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SFP was rejected at ~3.15 If it can stay above 2.666 where it has found a support on previous support levels. then we could see a small upside, if it breaks then going further down to 2.3 - 2.1
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It has broken below 2.6 level. My guess is that it will touch 2.3 -2.1 zone today. The lowest i think it could go is 2$.
Should consolidate and gather strength between 2.6 and 2 for another pump in next days
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If it doesn't hold the 2.35 level at this moment, then I think it still might touch 2.1 to 1.9 zone. The lowest at 1.8 On hourly MacD indicator is still going down which is bearish and on 4hours it looks like its still up but soon to cross to down side, signaling a drop. Daily RSI at 74 is still not the best entry for long at this moment. But it is going down for the last 15 hours. So at any moment there could be a small pump to upside and the back down. Will be consolidating from 2.6 to 2 dollars i think.
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On hourly it will hit BB bands at 2.25 that is the bottom and from there it could go up a bit and then come down - for a small long position.
50 day Exponential Moving average at 2.16 so it might bounce up from there a bit too.
Its currently under 12 day and 9 day EMA and 20 day MA which is bearish signal. 180 day moving average is really far away, if it drops hard, then it hits it at 1.6 -1.8 depending on how slow or fast this drop will be.
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i don't see it going any lower than positions that i have mentioned above. Depends on the next hours or days.
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Yesterdays pump volume was almost 1.7 billion dollars. That's a lot in one day comparing to other days since project start. It had at most 100million in one day before. So is this a pump and dump or what i can't tell. But congrats to all who profited and be safe that it can go up higher, it just needs time to rest a bit now.
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2.3 Target to downside reached. If it doesn't hold this level, then we see the drop to 2.1 and 1.9
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Support held at 2.3 Hard to predict at this moment how will market move. Proceed with caution on your trade at this moment.
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daily RSI still high, so it could have more downtrend but i think it will start to consolidate now slowly in this area
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2.1 target reached
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It has bounced back from 0.5 fib level. That is a sign that the drop is stopping down.
Entry for a new long from 1.8 to 2.2
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1.9 level was reached
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Personally i think this is a good entry for a new long as targets to the downside have been reached. Keep it safe and use stop loss at 1.6
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RSI is really low on 15 min chart, looks like this could be the bottom. 1h chart it has touched 180 day EMA that was needed to retest. So this could be stabilizing , but keep a safe stop loss and do not overleverage at the moment. Anything is possible as BTC is going down at the moment
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Around 1.68 is the next support if it drops a bit more from current 1.8 level
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Holding the 1.8 support currently. This could be a sign that it will consolidate now in this range for a bit to make the next move up in next days, weeks
Good call, I took profit at 2.35 but i could see it going a little bit lower to around 2.2.
UnknownUnicorn26369879
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@reecepinnock1, Thanks. Glad you profited. :) If it doesn't hold the 2.35 level at this moment, then I think it still might touch 2.1 to 1.9 zone. The lowest at 1.8 On hourly MacD indicator is still going down which is bearish and on 4hours it looks like its still up but soon to cross to down side, signaling a drop. Daily RSI at 74 is still not the best entry for long at this moment. But it is going down for the last 15 hours. So at any moment there could be a small pump to upside and the back down. Will be consolidating from 2.6 to 2 dollars i think.
ATH_Buyer
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2.6 on daily?
UnknownUnicorn26369879
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@ATH_Buyer, on any timeframe. 2.6 was previous resistance level, and acts as support when we broke above it. Its currently at 2.5 so i think it will try to touch the 2.3 - 2.1 level today.
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@MrPeterG, I think now its over for at least 1-2 months like same happening with all other coins. I missed exit at 2.5
UnknownUnicorn26369879
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@ATH_Buyer, What are you thinking with "its over" ? The drop to lower side or going higher is over?
ATH_Buyer
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@MrPeterG, My over mean SFP will be on cooldown mode for sometime. Have you ever seen 2nd pump quickly after 150% bounce?
UnknownUnicorn26369879
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@ATH_Buyer, You are right on that. It will take some time to cool down. But if we look at the idea that bullmarkets second phase has started and it will just get hotter and hotter in the next months, we could see this one pump again as soon as november or december :)