Hello everyone,
Interesting to see shorts continuing to rise. To me, these are emotional shorts and very likely to get REKT. Anything is possible, and we may have more downward movement, but in my opinion, it makes no sense to short here.
-We are bouncing off RSI support on the daily. Even if it falls through, that will create bullish divergence on the daily. L-RSI is bottomed out.
-We are very near mid-channel support and have already had multiple touches in the channel. Its very common to have the pattern retrace to the midpoint after enough touches before moving up and out.
- We are forming a tweezer bottom on the daily, which has a very high success rate of indicating a trend reversal.
Play smart, wait for confirmation.
Interesting to see shorts continuing to rise. To me, these are emotional shorts and very likely to get REKT. Anything is possible, and we may have more downward movement, but in my opinion, it makes no sense to short here.
-We are bouncing off RSI support on the daily. Even if it falls through, that will create bullish divergence on the daily. L-RSI is bottomed out.
-We are very near mid-channel support and have already had multiple touches in the channel. Its very common to have the pattern retrace to the midpoint after enough touches before moving up and out.
- We are forming a tweezer bottom on the daily, which has a very high success rate of indicating a trend reversal.
Play smart, wait for confirmation.
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Not sure why i had several likes on this one, got stopped out, lol. BTC really feeling the pain. Waiting for a good entry. Be patient....