Where should we set our BTC buy orders? Monitoring the drop.
We can't seem to break the downward trend and it appears a test of the low $5ks, upper $4ks is still on the menu.
I'm thinking it all depends on how Monday morning responds. If we drop fast and hard, it looks like an entry between $5100 and $4900 is possible. If our continued drop is a slow and drawn-out drop, I could see us bouncing off the top of the daily cloud around $5400.
Still a very fluid situation. Stay vigilant. Stay safe out there.
Not trade advice, DYOR.
I'm thinking it all depends on how Monday morning responds. If we drop fast and hard, it looks like an entry between $5100 and $4900 is possible. If our continued drop is a slow and drawn-out drop, I could see us bouncing off the top of the daily cloud around $5400.
Still a very fluid situation. Stay vigilant. Stay safe out there.
Not trade advice, DYOR.
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Zooming in on the action...
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Broke up out of the wedge but not very convincingly and potentially caused by economic uncertainty in Japan (first leg potentially by a single, large investor - see source below). This just looks like we're taking a break before a continued fall while potentially forming a double-top in the process. Still standing by my buy zones.
News source: www.zerohedge.com/ne...dip-buyer-identified
News source: www.zerohedge.com/ne...dip-buyer-identified
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Still moving with rising wedge.
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Broke south out of the wedge.
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False breakout, adjusted wedge. Riding support.
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Rising wedge petering out + a pretty significant bearish divergence has formed...
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Closing this tracker out, never came down to where it should for a healthier retrace. Still needs a correction and with rumors of CME potentially launching on Monday, it could either push it way up or way down. Be careful if you're not just hodling.