Loving this run up, but going to go through ( quickly ) why i think its retracement time.
1. Recent bearish SFP which kicked off the last TWO price dumps occurred a few days ago
2. Bearish RSI Divergence
3. OI Skyrocketing ( Bitmex ) while price remains inside a flat range
and approaching parabolic trendline. Typically large spikes in OI at the top of a large trend with little to no price movement indicate a potential reversal area.
4. Lowest Volume move with failure to reach top of channel signaling exhausted bulls
5. The good ol' CME Gap meme:
Expecting something similar to the gray line, range break, sideways, extreme chop, and then a nuke to purge OI and leveraged positions.
Longing anything under 8k.
Last.
Dip.
Ever.
1. Recent bearish SFP which kicked off the last TWO price dumps occurred a few days ago
2. Bearish RSI Divergence
3. OI Skyrocketing ( Bitmex ) while price remains inside a flat range
4. Lowest Volume move with failure to reach top of channel signaling exhausted bulls
5. The good ol' CME Gap meme:
Expecting something similar to the gray line, range break, sideways, extreme chop, and then a nuke to purge OI and leveraged positions.
Longing anything under 8k.
Last.
Dip.
Ever.