This could be a reversal point here as this is where we reversed on the last big drop on the 28th, but if that doesn't hold then it could get ugly.
DatCryptoBoi
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@jeremy.jacques79, im skeptical. If you look at higher timeframe (week, day) it looks pretty bearish. Double top. We are at the neckline now. break of this - and next target becomes 3k
At THAT point (if we get there) I will consider loading up long. To go long I need to see a good decent structure like 4 hour bull divergence on RSI and reducing volume on dumps. Right now we're seeing bigger vol on dumps.
W3rN0tAl0n3
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@AndrewBth, good point.
DatCryptoBoi
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@jeremy.jacques79, Look at the divergence here on the RSI. Several touches - on the last leg down I closed short around 3500 (a little early) and started buying. This RSI divergence on higher timeframes (4hr+) is a very powerful indicator of trend change in the future
W3rN0tAl0n3
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@AndrewBth, yup- you're right, ;-)
W3rN0tAl0n3
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WOW- bears put the smack-down on the market!
DatCryptoBoi
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@jeremy.jacques79, they really did. Exceeded my expectation - just like the pump of 3200 was more bullish than expected.