Some rare buy activity from me
Updated
I've been bearish and resisted buying anything lumpy to date. However I have taken some small trades for beer money.
- the price hit my (adjusted) E3 buy point which is based on the previous low's uptrend / floor price (in green - ignoring the manipulation spike down) and the mid-term down trend (red).
- indicators look positive and MFI / MACD dipped into the oversold mark
- also the idea that if the MM wants cheap liquidity a good time to get this is by scaring the weekend warriors into selling (who will FOMO in once the price rebounds and push up prices again).
It is now stuck in this mini pennant and I'm 60% expecting to go south as I'm mid-term bearish. Investment is small at this stage with tight stops and expect this to break down in the near term.
Thirsty, Hard Forky
- the price hit my (adjusted) E3 buy point which is based on the previous low's uptrend / floor price (in green - ignoring the manipulation spike down) and the mid-term down trend (red).
- indicators look positive and MFI / MACD dipped into the oversold mark
- also the idea that if the MM wants cheap liquidity a good time to get this is by scaring the weekend warriors into selling (who will FOMO in once the price rebounds and push up prices again).
It is now stuck in this mini pennant and I'm 60% expecting to go south as I'm mid-term bearish. Investment is small at this stage with tight stops and expect this to break down in the near term.
Thirsty, Hard Forky
Note
Haha, lost my beer for tonight.Mid-term is 5800 in line with related idea
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