What i'm seeing? Indecision in the market short term. Where we are at on the daily is close to breaking low, so bulls are trying to protect that support, risk adverse and gamblers are buying, bears are shorting anything that bounces, and big bears are protecting their large shorts by executing market sells at critical signal points. Prediction? At some point this will flip flop but we will need more buy pressure to support it. My guess is we will hold above 7k long enough that bears will give way and start covering shorts. But it could take a month for that to happen.
TA? We closed a nice reversal doji yesterday on the daily but today's candle failed to close higher. (dumped 30 mins before FML) We really need a higher daily close before I would think about a long. If we close high tomorrow upside should at least hit the the 200/50 cross point of the MAs (probably 9400-9500) but watch closely in that range. If the bull is strong we could test the upper resistence at 10.5kish. If this scenario plays out I would close a long there and wait for a pivot or breakout.
Hodlers? Fundamentals still look great to me so if your an investor hodl tight. If your looking for fast money you better know what you're doing and have a little luck on your side.
TA? We closed a nice reversal doji yesterday on the daily but today's candle failed to close higher. (dumped 30 mins before FML) We really need a higher daily close before I would think about a long. If we close high tomorrow upside should at least hit the the 200/50 cross point of the MAs (probably 9400-9500) but watch closely in that range. If the bull is strong we could test the upper resistence at 10.5kish. If this scenario plays out I would close a long there and wait for a pivot or breakout.
Hodlers? Fundamentals still look great to me so if your an investor hodl tight. If your looking for fast money you better know what you're doing and have a little luck on your side.