Some longs are getting trapped, otherwise nothing has really changed. We have to break about 970ish with conviciton. Otherwise this is just a nice place to short.
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notice it's still just sitting here around 950, the likely top for this rally.
all the individual coins' daily swings are just noise; the TOTAL is king for longer term trades.
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NOTHING CHANGED. DO NOT BUY THIS.
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Satisfying dumpage...
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more red candles to follow.
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lets see if we can close low and dip below 900 tomorrow
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expect to break below 900 or we may turn up again
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time to short GMT and other nonsense alts with tight stops so we can reload if they push it closer to 960-970.
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here's resistance. 970. short it all.
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if not much changes today we will have an evening star reversal and dump hard in the coming weeks.
which makes sense because this looks like a fake breakout with little momentum to follow up and move higher.
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looking for a dump below 960 to bring us back into the channel.
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still not a very convincing breakout. a pullback to 960 before further lift off or a break above the 1.02-1.03 area would need to occur before we determine this isn't just a bull trap. until then short with low leverage and tight stops every time it rises above 1T is profitable.
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this next 24 hours will prove very interesting.
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this region between 970-1T will determine whether we dump back to much lower region or spring up and reset to possibly continue higher. the longer we stay out of the downtrend channel the more likely a break to the upside is.
another option is for us to continue now in a period of consolidation sideways that will confound and annoy bears and bulls alike. crypto loves doing this.
Trade closed: stop reached
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we are forming a huge head and shoulders. sell the next pump.