Relatively high volume candle is here as i mentioned earlier.
We are below my 40.17 rsi line but above 30 which is a sign that we can still go up but there will be resistance.
This dip can be used as a buy opportunity however it is too early to say the downtrend is over and to be completely positive.
I know i have been bearish for days but you can see why. Remember the first rule in the market is to not lose money!
If you have to enter here, consider taking profit at even as low as 47k and then you can consider buying back potential re-test. More importantly, keep in mind that 44k re-test might be on its way.
In case of a quick trend reversal 46k-46.5k should be our first resistance at which we should also be approximately at my 40.17 rsi line.
This is a time to be really careful and protect your wealth.
Patience and stop-loss!
NFA.
We are below my 40.17 rsi line but above 30 which is a sign that we can still go up but there will be resistance.
This dip can be used as a buy opportunity however it is too early to say the downtrend is over and to be completely positive.
I know i have been bearish for days but you can see why. Remember the first rule in the market is to not lose money!
If you have to enter here, consider taking profit at even as low as 47k and then you can consider buying back potential re-test. More importantly, keep in mind that 44k re-test might be on its way.
In case of a quick trend reversal 46k-46.5k should be our first resistance at which we should also be approximately at my 40.17 rsi line.
This is a time to be really careful and protect your wealth.
Patience and stop-loss!
NFA.