Observation:
Still below EMA 10 and 20 which will act like a resistance
Volume low as expected because everyone is now looking at low 5K as for possible entry.
RSI over 80%
We have higher lows on the 1 hrly and 4 hrly
RSI Daily candle states we are oversold. But RSI is not reliable in a bearing trend.
5765 is the next major resistance.
My thoughts:
I feel we will have some sideways movements like we did for the high 6K range before the volume will get us again and drop to 4K
There is money to be made but ensure you trade with a small hand
I feel we can reach the bottom next year around June. If we are lucky, earlier. The duration is taken from the 2014/2015 stage which is similar to now. I expect mid 3k for the bottom if NO INSTITUTIONS announcements. If the ETH fork takes place and\or ETF announced, then mid 4K is the bottom. Until then, look at the charts.
5765 resistance > sell and wait for the pull back and see the response.
Still below EMA 10 and 20 which will act like a resistance
Volume low as expected because everyone is now looking at low 5K as for possible entry.
RSI over 80%
We have higher lows on the 1 hrly and 4 hrly
RSI Daily candle states we are oversold. But RSI is not reliable in a bearing trend.
5765 is the next major resistance.
My thoughts:
I feel we will have some sideways movements like we did for the high 6K range before the volume will get us again and drop to 4K
There is money to be made but ensure you trade with a small hand
I feel we can reach the bottom next year around June. If we are lucky, earlier. The duration is taken from the 2014/2015 stage which is similar to now. I expect mid 3k for the bottom if NO INSTITUTIONS announcements. If the ETH fork takes place and\or ETF announced, then mid 4K is the bottom. Until then, look at the charts.
5765 resistance > sell and wait for the pull back and see the response.
Trade active
Note
Trade active
Next support linesNote
$5350 and the strong psychological support $5000 ($5000 to $5200 range)Trade active
Pay attention to the volume... more downs. Next support 4500 range. Then 2500 to 3500 as the bottom.Trade active
Trade active
Next stop support 4200Trade active
We are seeing lower highs, hence Trade active
it will seem 4000 be very hard to break at this point Trade active
Next target 4150Trade active
We are approaching the horizontal and slope resistance. If it passes these 2, we can say we have a small opportunity to go short.Trade active
Just got woken up by my brother and my orders at low 3900 have been filled. However I do expect it to go down more if not in 4 to 5 days, then later. I have a feeling it might go as low as 3800 today but I do also expect for it to go up to the 4000 as resistance if not today, tomorrow or Tues.Trade active
For the daily trader, I think we have hit bottom for today at 3825. We have identified a number of resistances today as per the chart. Happy day tradingTrade active
soon low 3ks range. Place your ordersTrade active
Closer look, the squeeze is coming from the bottom, so a small push up is due , temporarily.
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This community has signals now but with no risk management comms.
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
Disclaimer
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Discord: discord.com/invite/vb4hbP88vb (TradeToProspa)
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.