Did you FOMO at $7400? I didn't..Bears are back!
It is very difficult to sit on the sidelines and watch the price bounce, FOMO is real! I didn’t let FOMO set in because I am using my charts to guide me in my decision making process. I don’t make perfect decisions, but I am learning how to make fundamentally sound decisions. I hope you come along for the ride.
We saw strong bounce yesterday followed by a dump today. Yesterday’s bounce has not changed my analysis; I still think the key level to watch is ~$6500. If we can stay above that level I think we are going to trade sideways, until we break in either direction. I suspect we will test that level once more and if we drop below, we will likely go to around $5800-$6000.
Key points:
• Watch $6500 for downward break
• Watch $7000 for upward resistance break
• Bears were quiet, but now they seem to be building steam again
• 4 hr RSI has been very interesting and seems to track well right now
While I am a new here I would appreciate your like and follows if you find this information helpful.
Thanks for stopping by!
We saw strong bounce yesterday followed by a dump today. Yesterday’s bounce has not changed my analysis; I still think the key level to watch is ~$6500. If we can stay above that level I think we are going to trade sideways, until we break in either direction. I suspect we will test that level once more and if we drop below, we will likely go to around $5800-$6000.
Key points:
• Watch $6500 for downward break
• Watch $7000 for upward resistance break
• Bears were quiet, but now they seem to be building steam again
• 4 hr RSI has been very interesting and seems to track well right now
While I am a new here I would appreciate your like and follows if you find this information helpful.
Thanks for stopping by!
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