Depending on where you have your line drawn, we have 100% pierced the 9.4k support level and it could be argued that we broke it. We really need a candle close to indicate that it's going down further. But I don't see why it wouldn't at this point. There is a big seller out there and it looks like it's going to continue. It sounds like it's Mt Gox dumping to appease creditors, but it's hard to say if that's the sole reason or not.
One of my points to look at was 9k, right now you should be profitable and I would take your profits and wait for a further move down. It could keep going up to the 9.5k-9.7k area, that is the next resistance point before it goes back down. You could keep a buy at this 9k level, but I am not since it already hit and took some profits. I will be keeping my buys at 8.2k and going in heavy at 6k to play those levels. Of course, in a martingale fashion in case the market really starts moving down. Once we get a push down to 6k, I would expect it to bounce up to the 8-9k range and then come back down. The way back down will really determine if we start moving up from that point or if we move lower to 3.5k, which we need to be mindful of.
Day chart is looking bearish, MACD is about to cross and RSI is moving further into negative territory and is only confirming a further move down. With these down turns you can make a lot of money. We did last time and it looks good again this time.
Happy Trading. pick your points, don't stress and don't use leverage.
-Sherem
Check out my last double top call -
One of my points to look at was 9k, right now you should be profitable and I would take your profits and wait for a further move down. It could keep going up to the 9.5k-9.7k area, that is the next resistance point before it goes back down. You could keep a buy at this 9k level, but I am not since it already hit and took some profits. I will be keeping my buys at 8.2k and going in heavy at 6k to play those levels. Of course, in a martingale fashion in case the market really starts moving down. Once we get a push down to 6k, I would expect it to bounce up to the 8-9k range and then come back down. The way back down will really determine if we start moving up from that point or if we move lower to 3.5k, which we need to be mindful of.
Day chart is looking bearish, MACD is about to cross and RSI is moving further into negative territory and is only confirming a further move down. With these down turns you can make a lot of money. We did last time and it looks good again this time.
Happy Trading. pick your points, don't stress and don't use leverage.
-Sherem
Check out my last double top call -
تم فتح الصفقة
Still looking for btc to move down further. My profit's on btc were taken out yesterday at the brief bounce from 9 to 9.4k. If you aren't out yet, Expect a lot of resistance at this 9.4k-9.6k area. Moving my 1st initial martingale position down to the 8k area just above 8.4k to see if we can play a bounce this weekend, but it could move down and if it does move down, we have martingale buys laddered down to 6k.تم فتح الصفقة
That 8.4k level proved to be a strong level, so strong that my buy at 8.4k didn't get filled. Look to take profits at this 9.6k level for a move down after the weekend is over. I will post another update tomorrow.
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