How I see it is if I get back into the market now at $5600 for a $400 upside vs a potential loss of $600 id rather wait until I can maximize my gains from $5000 potential up wards of $1000 to $6000.
Also if there is any indication that the price action is going to end the bearish trend I'd look for RSI above 50 and price action to break through the clouds. Also chikou span to cross over the kijen sen.
wifi88
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I like it a lot... same view here... This ride up after asian surprised my but I'm estimating that 5600 lvls were the top for now... I need 5200 which is my target and then I'm sideways.
WiThConFi
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@wifi88, I do think there is going to be a lot of side way action as well. Thanks I appreciate it!
wifi88
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@WiThConFi, working perfectly as for now :) Congrats for nice analisys
wifi88
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@wifi88, hmm again shoot up... and now it almost touched 5700 ... I'm not sure.. I think I need to find a way to get out from 5500 shorts
WiThConFi
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@wifi88, The clouds are resistance. If it breaks through, which is possible, price action is going to retest near psycological $6000 and $6200 ath. I think there will be sideway action and a sell off right before and on the weekends. Not sure if institutional money can work over the weekend to push the price of bitcoin. Unless there is automation involved.
wifi88
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@WiThConFi, I messed up today the whole thing.. should forseen that there is problem with correction ;/ naah...now Asians are pumping even more ;/ i think I wont risk more loses and will cover now ;/ ffk.
Also if there is any indication that the price action is going to end the bearish trend I'd look for RSI above 50 and price action to break through the clouds. Also chikou span to cross over the kijen sen.