Although the drop in price was expected as anticipated in previous trade idea. I didn't think it would fall as fast as it did. Just shows IMHO how the market is being tugged both ways to shake out the weak hands that FOMO in whilst seeing the price rocket. Though I think everyone's getting they're butt hauled in this market. The difference beetween the bigboys is they don't get margin called, and don't lose their positions like the retail side does so. And everytime the retail side loses their positions the big traders swallow it all up.
Anyhow enough with the rant.
This where I think the next buy zone is now, around 7.8 to 7.2k although it's definetely harder this time, since price action is now trading in consolidated ranges, meaning we have buyers and sellers everywhere in this range. We either work overbought conditions sideways for a while, or go down to touch the median (Dashed red line) maybe even go a bit below it.
But if you want to play this the right way. Just buy and hold, and keep buying every dip until we reach atleast a 100k.
Anyhow enough with the rant.
This where I think the next buy zone is now, around 7.8 to 7.2k although it's definetely harder this time, since price action is now trading in consolidated ranges, meaning we have buyers and sellers everywhere in this range. We either work overbought conditions sideways for a while, or go down to touch the median (Dashed red line) maybe even go a bit below it.
But if you want to play this the right way. Just buy and hold, and keep buying every dip until we reach atleast a 100k.