Here's a rough Idea of what I expect from King Corn in the next week or so. Everyone wants $8200 right now...not gonna happen, not yet at least. Wait until we get a little bump up and "it seems so crazy"... we all know crypto sentiment is fast moving.....3 days or so above $9k and people will say no dips ever again.
Zoom out to the weekly and until we can see a close above $9400 on a weekly candle, and reclaim it as support, I am expecting these bids from $8k-8225 to get filled. Let's just hope she bounces from there.
A rejection from $9250-9400 would make for a pretty good short signal IMO, but placing shorts there ahead of time is pretty dangerous. I would want to see a confirmed rejection before I short into all this support. Waiting with low bids, if $8k don't bounce, lower levels I'm looking at are $7400ish, $6400ish and god help me, $5700ish.
Zoom out to the weekly and until we can see a close above $9400 on a weekly candle, and reclaim it as support, I am expecting these bids from $8k-8225 to get filled. Let's just hope she bounces from there.
A rejection from $9250-9400 would make for a pretty good short signal IMO, but placing shorts there ahead of time is pretty dangerous. I would want to see a confirmed rejection before I short into all this support. Waiting with low bids, if $8k don't bounce, lower levels I'm looking at are $7400ish, $6400ish and god help me, $5700ish.
