The Trend is still your friend - 6500 target in sight
Diupdate
This is shaping up quite nicely for a Long and following the correction trend (despite some sell off).
Daily about to hit RSI bottom.
Textbook iH&S reversal a week ago.
Expecting MFI to develop divergence on the 4hr.
Interesting bot micro buying now we have reached an attractive area.
Some ALTs are showing signs of life.
ETF lambs are now roast dinners.
DotCom bubble trend .. (unlikely)
Expectation is that Bears will switch to Bulls and will push hard after squeeze - we could break the line (potentially down to 6350).
Bearish perspective: Yep, I'm not going to buy just based on some positive indicators :)
Daily has a little way to go still so might just be a dead cat bounce.
There has not been a major battle from the price action I have seen (at least not like back in feb, april, june)
ETH might break a major resistance.
Retail stops sit behind 6600 but also probably lumpy stops behind 6k - at 10% it might be worth pushing down to hit those stops but I suspect they would have taken their gains by now (?)
ETF might be overly bearish to support the break below 6k.
I'd still go for the stops at 9k but 5k look pretty attractive as well from here.
Roll the dice, Hard Forky
Daily about to hit RSI bottom.
Textbook iH&S reversal a week ago.
Expecting MFI to develop divergence on the 4hr.
Interesting bot micro buying now we have reached an attractive area.
Some ALTs are showing signs of life.
ETF lambs are now roast dinners.
DotCom bubble trend .. (unlikely)
Expectation is that Bears will switch to Bulls and will push hard after squeeze - we could break the line (potentially down to 6350).
Bearish perspective: Yep, I'm not going to buy just based on some positive indicators :)
Daily has a little way to go still so might just be a dead cat bounce.
There has not been a major battle from the price action I have seen (at least not like back in feb, april, june)
ETH might break a major resistance.
Retail stops sit behind 6600 but also probably lumpy stops behind 6k - at 10% it might be worth pushing down to hit those stops but I suspect they would have taken their gains by now (?)
ETF might be overly bearish to support the break below 6k.
I'd still go for the stops at 9k but 5k look pretty attractive as well from here.
Roll the dice, Hard Forky
Catatan
Oh yer, this trendline is pretty hard to place so the target is ballpark ;)
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