All of the formulas i have created that work 97.3% of the time say that we are going to continue upward short term. Looking at the charts easily showed me why since the RSI on high timeframes are very low and need to come up in order to continue dumping. If i had to guess right now i would say Friday and Saturday should be upward price movement. Sunday wont be easy to judge until Sunday comes and even then their are a-lot of factors. Sadly im guessing it will be alot of slow sideways action as well for the first time in a while zzzzz
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Well that wasnt slow or boring lol.
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I just noticed i have an old line across $8537 that is viewable in this chart, to be clear that line is not meant for this post and is not a target. My target was around $8020 slowly which i didnt post because i also expect it very possible we go higher from whales trying to hunt shorts since short is the long term smart play. I still say we hit a minimum of $5000 but still thinking $3100-$3300 will be bottom.
Another possibility all be it small IMO would be a large drop for 1-2 week candles and i mean down to $4000 or less within 2 weeks followed by a large gain +6000+ followed by large drop followed by large gain to $15,000 - $20,000. I did not do the math on this so this is just rough numbers of an idea of what i believe could happen that would end up at high money but with weekly rsi below 70 also. I might do the real math later and post an exact example of how this could happen.
But 5-9 weeks of mainly or all down weekly candles is still the probable for now. First real info will be seeing where we end this week. Hope you all causght that big drop at the close of the 12 hour candle 28 hours ago it was very obvious we were up for that candle and would drop but i only saw it 2 mins before hand and had no time to post.
Another possibility all be it small IMO would be a large drop for 1-2 week candles and i mean down to $4000 or less within 2 weeks followed by a large gain +6000+ followed by large drop followed by large gain to $15,000 - $20,000. I did not do the math on this so this is just rough numbers of an idea of what i believe could happen that would end up at high money but with weekly rsi below 70 also. I might do the real math later and post an exact example of how this could happen.
But 5-9 weeks of mainly or all down weekly candles is still the probable for now. First real info will be seeing where we end this week. Hope you all causght that big drop at the close of the 12 hour candle 28 hours ago it was very obvious we were up for that candle and would drop but i only saw it 2 mins before hand and had no time to post.
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Also i just checked and we are still heading up so long is still good short term
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Would close any long now the hour rsi is almost 70 or set a stop loss because it could pump the hour rsi high at end of a hour before dropping or we may likely go sideways and slowly drop it and keep slowly going up
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Im guessing we pump hard to end of hour and then go sideways or quick dump followed by up again
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Im seeing signs that we may dump soon between now and before hour ends
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Last comment for a while, the signs keep changing so like i said its a dangerous zone and alot of easy calls coming so best to play it safe with a tight close or close for now. That said it could be a huge gain if you have a position in the right direction so choosing one with a tight stop is not a bad idea but dont get greedy either keep moving stop closer during the pump or dump minute by minute cause its likely to quickly change direction
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Its starting to appear like long term downtrend (way too early to confirm but its definitely a possibility but short term down trend is a guarantee right now)
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Ok almost positive now that it is short term and that we will turn around and head up any time between now and more likely when 1h RSI nears 30.