So we're due at least a small correction upward at some point. I'm guessing at the low of the channel. But things are still extremely bearish . I'm considering going short at the break of the last four candle low or on a retracement for a swing trade.
Negatives:
Moving averages: bearish
RSI: oversold but we're still trending down strongly
Trendline: still has room to the downside; moving toward support.
gut feeling: bearish as hell.
Positives: lol
We've still got a ways down to go guys. My next targets are 5900 and 5500. If you have the funds and for a more long term strategy it may be an excellent time to accumulate on dips. (say when price reaches the horizontal lines). But price action has been relentless. Those who thought the last couple months were bad ain't seen nothing yet. If we don't stay above say 4400 we may be in a bear market for the rest of 2018.
As for that feeling we're all feeling right now? Sucks huh? Just remember the only thing that sucks more is selling at the low and watching it shoot back up. There will be another bull wave coming. How soon? only time will tell. ;-)
Negatives:
Moving averages: bearish
RSI: oversold but we're still trending down strongly
Trendline: still has room to the downside; moving toward support.
gut feeling: bearish as hell.
Positives: lol
We've still got a ways down to go guys. My next targets are 5900 and 5500. If you have the funds and for a more long term strategy it may be an excellent time to accumulate on dips. (say when price reaches the horizontal lines). But price action has been relentless. Those who thought the last couple months were bad ain't seen nothing yet. If we don't stay above say 4400 we may be in a bear market for the rest of 2018.
As for that feeling we're all feeling right now? Sucks huh? Just remember the only thing that sucks more is selling at the low and watching it shoot back up. There will be another bull wave coming. How soon? only time will tell. ;-)
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Positive message for the day. cause I'm a positive f*cking guy.
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fifth leg of the current sub wave.
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btc going to moon if by moon you mean 5932.
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One of the most important rules in TA. Never let what you want to happen color your views of what IS happening. Also never trust your view of what is happening. markets are tricky like that. ;-)
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Example: This looks like we're going to 6365. Will we go there or will we go to 6700 instead?
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Sorry if that made no sense. =-) dabbling with a contrarian strategy lately..
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High probability of a reversal at the 67xx region.
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Just noticed this symmetrical triangle per @excavo.
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6676. Waiting for a reversal formation in the next twelve hours.
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The goal of technical analysis is to see markets as they really are. Fools see what they want to see.
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Point is don't let your desire color your view of what is actually happening. Some people just get pissed and start hating people with an opposite view. If you're trading based chances are you will lose.
Waiting to reverse at the 7100 region. .618 retracement of the last major move.
Waiting to reverse at the 7100 region. .618 retracement of the last major move.
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*If you're trading with a bias...
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Next stop 6882. btc!
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Base hits... Don't assume every moment you enter a trade will be the next home run.
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Waves up and down through time space. Long live the block chain. lmao
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Weather for friday: sunny with a small chance of rain.