Chart a few days ago really unchanged other than one exception. I was watching for daily chart to hold key support being down at $4945 and yesterday we saw a significant dump bringing price down to $4963. Anyone with SL's just under prior support are still safely within their position. Anyone looking to bottom fish had orders placed just above support and should have gotten nice fills with some solid 5-6% follow through last night. RSI finally cooling off on the daily chart as well here. The red flags when strictly looking at chart to me was loss of the 12 EMA on daily chart (as mentioned last chart, it was holding as support for nearly a month now). But we can't solely look at charts 100% of the time. This dump yesterday was to do with tether and Bitfinex and a lawsuit coming from New York. All in all, market reacted violently, supports for BTC were maintained by $18 and now we are watching to see if this bounce can play out in the bulls favor to climb back to new highs or if the bears will reload and start the lower lows process on the daily chart (which daily chart has not seen since early February). I personally remain all cash and did not attempt to bottom fish anything as it happened so quickly and I was not aware until about an hour or two after the drop began. So will patiently watch daily and really hourly and 4 hour BTC charts to see if those can return higher lows and higher highs to give an indication that the bears are temporarily done dropping price.
Just My 2 Sats!
Just My 2 Sats!
