There's a lot of hype surrounding breaking the $11,700 mark, I'm just glad we didn't pull back to the next support line. I FOMO'd because I was afraid of missing the bullrun; gotta learn to leave emotions out!
- 2hr candle pulled up from the support line, I'm expecting sideways movement in the $11,300-$11,700 region (candle has yet to close however).
- If we stay below $11,300 for too long, I'm expecting our low to be $10,500.
- $10,500 might have even weaker support; since bears have won just now, bears will want to drive the price down further to stay in an accumulation phase before going for the bull run.
- Frankly, I'm surprised that we only dumped this much so far. Looking at RSI and MACD, I believe the bulls have lost their steam and a second dump is likely.
- Major resistance will come again as we approach $12,000.
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Expect further drop!
My published indicators: www.tradingview.com/u/NeoButane/
Sorry if I haven't replied to your message yet, I'm a bit backlogged :)
Sorry if I haven't replied to your message yet, I'm a bit backlogged :)
