Yesterday I expected the price to meander back towards the maroon trend line and mentioned that it could provide a good entry for a long. The last candle came within a hair of that trend line before the bulls quickly pushed the price back over $8,900.
Support has continued to move up after supporting the large sell volume from the 20th. That is a very good sign and tells me that we are ready for the next pump. I expect to see $9,500 in the next 12 - 24 hours.
If not in a position then entering a long in the $8,000’s could be a good option. If we breakout above $9,000 then it’s too late and I would not advise chasing.
Happy trading and remember that following is free!
Support has continued to move up after supporting the large sell volume from the 20th. That is a very good sign and tells me that we are ready for the next pump. I expect to see $9,500 in the next 12 - 24 hours.
If not in a position then entering a long in the $8,000’s could be a good option. If we breakout above $9,000 then it’s too late and I would not advise chasing.
Happy trading and remember that following is free!
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