- This post is for educational purposes only. Do not buy or sell this stock based upon this post, but only after performing your own due diligence on the company -
Disclosure: Writer of this post has a net short position on GSX.
Fundamentals:
I believe that GSX's breakout over the last past week above $46.5 was driven by a massive short squeeze and...
New support zone for BTCUSD @ 6800. If the support breaks, new support @ 6400 ( see ).
BTCUSD is clearly bearish but the immediate trend could go either way.
I can see a sea of whales.
Never underestimate the ability for a bear to turn into a bull and the other way around.
One wave at a time.
DON'T APPLY ANYTHING I WRITE.
I won’t go into the details of how to select the right indicators, as this is beyond the scope of my ideas. I am more inclined to show how we should apply different machine learning models over a data set to determine possible trends. Linear regression has a good degree of precision, especially when backed up by other models to support or to dismiss a trend.
The...
Longs > Shorts = Net long position (but this is not a full net long market)
2 conditions for net long in bearish market = Sustained buying + Flow of new monies
If those conditions are not met the risk > reward = cut loss liquidation, especially considering old longs > new longs.
The old longs will want to cut their losses or break even, so they will exit faster...
Next stop for BTC is 6400 and 360 for ETH. The market is still bearish with intraday bulltraps being set.
BTC dominance is almost 45%. I would short or liquidate my toxic assets if I held any.
DO NOT FOLLOW ANY OF MY ADVICES.
At this point everything is self explanatory. One could always long but there is no reason for a pattern reversal at the moment.
The financiers are having fun with your monies. This market is very immature and it is an easy target for the seasoned jugglers and for a certain class of algorithm.
NEVER LISTEN TO ME.
