Like I said in January, I expect all bull markets
to be met with some strong selling pressure at resistance
levels due to "bag holders" who are looking to get out
at higher prices. This is exactly why I closed most
of my swing trade long position in between ~$585 & ~$660.
There was a nice short opportunity last night on the break
of the bull flag, but I didn't catch it because I was on a train
in Italy.
So far, the bull trend still looks "healthy", so we could see
higher prices, but I'm expecting more consolidation and
maybe a deeper pullback before going higher.
Fundamentally, there's sold silk road news that could add
extra selling pressure to the markets.
to be met with some strong selling pressure at resistance
levels due to "bag holders" who are looking to get out
at higher prices. This is exactly why I closed most
of my swing trade long position in between ~$585 & ~$660.
There was a nice short opportunity last night on the break
of the bull flag, but I didn't catch it because I was on a train
in Italy.
So far, the bull trend still looks "healthy", so we could see
higher prices, but I'm expecting more consolidation and
maybe a deeper pullback before going higher.
Fundamentally, there's sold silk road news that could add
extra selling pressure to the markets.