IMO this move up doesnt feel right. we getting no traction after breaking the downward sloping resistance. formed a bullish divergence on the 1 and 4hr RSI and macD, immediately following with this current bearish divergence. maybe think about taking heavy profits if you longed the breakout and wait for retest. we havent had the classic "blink and you miss it" type of pumps we are used to in crypto. this may just be setting up for an even juicier short if it plays out that way. just be wary of heavy overhead resistance and very heavy support underneath us, so either way it goes, i will be keeping a close eye on this as you could easily miss your chance to take profits. godspeed everyone
Trade active:
yet another example of "wait for breakout to stall, and short hard"
seems to be the way to go since may
seems to be the way to go since may
Trade active:
thinking about starting to take some heavy profits here. i kind of have the feeling we are going to make an attempt at retesting the middle line (blue dotted) of the falling channel before making our way lower. definitely confirmed the head and shoulders pattern that was looming ominously on the horizon, so im expecting much lower price targets but not before a little leg up