Futures price just can't escape the long term trendline drawn from the peaks of our previous two major dumps. My verdict is MOAR DOWN!
We hit a long term line of resistance drawn across the top of our previous dump levels. Direction? MOAR DOWN!
BCOCK! I am chickening out of this short $1 below my stop loss target. No pullback whatsoever I am not taking any further chances up with this push. Going to step away from the market for a bit to reevaluate.
We had a small rally that failed to break our 220 resistance. Open up a short at 221.67 with stop loss at 224 and targetting the bottom of the channel.
This could be a wise time to close old shorts that didn't play out. We are at a critical value of 220 which was the initial low from the dump -> decision time. If the 500+ coin ask wall @ 220 on OKCoinIntlUSD falls there is more room to retrace up.
This little rise is nothing but a touch of the upside of our overall descending channel. Add more on to your short position and then grab the popcorn for MOAR DOWN!
Descending channel with bounces up to trendline give plenty of short opportunities. Watch out for a possible retrace up due to the bullish volume divergence.
There is absolutely no momentum for a retrace after the dump. Since I'm not playing for real money anymore, LET'S FAKE SHORT IT! Target: $200/BTC Stop: $4 rise
We've got a double top now what would happen if we had no confidence in the rise?
Short term indicators show heavy selling has occurred. Price action has slowed down as volume has dropped indicating a possible reversal opportunity. Volume profile shows a heavy orderblock in this area. Additionally, diagonal and horizontal patterns indicate an area of support. OKCoin top trader sentiment is at 80% long as of writing indicating major capital...
I feel this is fairly accurate here. We're in a wait and see period. If either the red / green are pierced then that is huge confirmation we are on our way in that direction.