Think it could be time to turn bearish again. Last few days has been harsh after false hope of some bullish months ahead. You can look up the BTC 4.92% ideas yourself and see the sentiment about. Things look great vs BTC 4.92% but nothing is taking off, guess they are planning the anger part of the cycle for us. Who knows. Going to look to sell ZEC here around $178-180. Ill stop out if I see it continuing up but just wait for the Asians to wake to sell today's gains.
The channel is a pitchfork with 78 - 61 - 50 and 23 fibs. Look to sell top of channel and take profits at the bottom or middle of channel.
Zoomed out view.
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I suppose it depends on how low BTC goes, I think it does go lower, we have not had that savage drop that kills lots of people yet. If we were to have one these are reasonable targets.
I would take profits here and look to enter later, its not really a spot for shorting.
@vmarche, Thanks! Hopefully this learning will start showing in the balance sooner or later!
As you can see the trend lines really do act as supports and resistances. You can use the trend channel for day trading. They break up its long, break down its short.
it hasnt evne touched the 150usd support.. and you see prices corrections where is none
sykes
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@Tangent1, I didnt trigger my sell unfortunatly, going to look for one sometime today. They're not took out of the air targets, they're the spikes in volume (buyers)