Rolling back downwards... will the re-test hold?
We had a nice little rally today! Price went about $1,000 or so over the previous projected target. I sold a bit early. Btc's price action has been so harsh lately that I was scared off before my target hit!
As expected having 4-hr RSI reach about 50 we are now starting to roll back downwards. If you would like to try out a long, a re-test of the channel we just broke out of would be a great place to do so. Specifically just under the channel re-test zone about halfway down the previous bullish hammer that we printed.
Long zone: $35,250
Bearish still? I still think we are going down one more time and a long might be too risky there, even if I can eek out a small profit. I may just wait patiently as I think this is almost ready to finish playing out, perhaps by tomorrow. Then I will place my 'buy and hold' longs for the incoming alt rally over the next two months.
As expected having 4-hr RSI reach about 50 we are now starting to roll back downwards. If you would like to try out a long, a re-test of the channel we just broke out of would be a great place to do so. Specifically just under the channel re-test zone about halfway down the previous bullish hammer that we printed.
Long zone: $35,250
Bearish still? I still think we are going down one more time and a long might be too risky there, even if I can eek out a small profit. I may just wait patiently as I think this is almost ready to finish playing out, perhaps by tomorrow. Then I will place my 'buy and hold' longs for the incoming alt rally over the next two months.
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