Yesterday we expected a bounce after the countless selling pressure that seem unorthodox since something doesn't just fall straight down to the target like that which most people were wanting a 6200-6300 bitcoin, yet this morning we had a flush out of longs than pumped near $1000 dollar move with now retracing back to 7165, after an inverse head and shoulders was form, roughly as of writing this.
Now I have to be honest with you, yesterday i looked back and relize the downtrend line of 14k wasn't on point and I changed after the post. from Top wick to the next top wick that was the real downtrend and guess what. We touched today and last we touched it before the dump was december 9th.
So where to now? I think its a mix bag, but since we are at the edge of western miner profitability it could be dicy, but I expect alot of sell pressure coming all the way into january and planing on a long term short. Why go short after a massive pump? Well nothing has really changed and Plustoken still holds millions of eth. Ups and downs are expected, yet now western miners must think should they sell right now as its in profit or wait and hope the price rebonds again like it did today. The halving is still months away.
As of now we have gain support back from 7121 and 6857 and with 6622, the high of trading range of accumulation in 2018 while people thought 6k was the bottom, held support for a good while, yet bearish still below the downtrend line and last time we wicked we dump for days.
I like to wish everyone Happy holidays and I wont be posting any more TA till January/after the Holidays.
Now I have to be honest with you, yesterday i looked back and relize the downtrend line of 14k wasn't on point and I changed after the post. from Top wick to the next top wick that was the real downtrend and guess what. We touched today and last we touched it before the dump was december 9th.
So where to now? I think its a mix bag, but since we are at the edge of western miner profitability it could be dicy, but I expect alot of sell pressure coming all the way into january and planing on a long term short. Why go short after a massive pump? Well nothing has really changed and Plustoken still holds millions of eth. Ups and downs are expected, yet now western miners must think should they sell right now as its in profit or wait and hope the price rebonds again like it did today. The halving is still months away.
As of now we have gain support back from 7121 and 6857 and with 6622, the high of trading range of accumulation in 2018 while people thought 6k was the bottom, held support for a good while, yet bearish still below the downtrend line and last time we wicked we dump for days.
I like to wish everyone Happy holidays and I wont be posting any more TA till January/after the Holidays.
