regardless of today's selloff, the overall trend on the daily chart is still UP! I will remain bullish and look to buy dips until we get a convincing close below 10,700 (the last higher low). Remember - the trend is your friend until it ends and it won't end without a daily close below 10,700!!!
12,000 initially rejected and VWAP is around 11,700 - so wait for it, wait for it..... and buy the dip! Always remember the trend is your friend (until it ends) and right now the trend is UP! Don't believe me - trust your daily chart.
My chart shows a lot of room for a quick correction. I won't be taking the trade as Bitcoin is obviously in a uptrend and the trend is your friend (until it ends). However, there is a lot of room down to 8450 and that would fill the CME gap to boot! If your brave and ready to move quickly (I expect a violent reaction off of the virgin POC around 8450/8500) -...
BINANCE:EOSUSDT Stochastic is oversold at a convergence point. Current point of control (POC), 55 VMA and 200 SMA are all converging around 4.75. Expecting a break above 4.75 with confirmation with a close above the last higher high (HH) of 4.87. Expecting $0.50 while risking no more than $0.15 (previous POC 4.68 and LL 4.66)