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Bears won the game!
During the whole period of flat we were attacked by a number of scam spikes. Both bulls & bears were suffering, but bears suffered the most. Therefore, by the end of flat, almost every bear was fear of opening a new SHORT position after his previous positions were closed in loss due to SHORT-squeezing spikes.
But huge players were not afraid and yesterday, right before the dump happened, we saw a number of huge sales in the $9700 - $9800 zone. Therefore, this range is the most important for now.
Bulls were trying to protect their positions as well, so we saw a number of huge purchases in the zone of $9500, but they failed and the level was broken, and breakdown was confirmed.
So, originally we have two zone of interest: $9500 and $9700 - $9800. However, because the price dumped heavily, levels moved a little bit lower and now located at $9450 and $9570 - $9650. Levels location changed because bulls had to average their positions lower than $9500 after this level was broken.
Therefore, as long as the price remains below these levels, priority is SHORT in order to at least test the ascending trend support.
What do you think about my idea? Are you agree or disagree? Share your thoughts and critics in comments!
Bears won the game!
During the whole period of flat we were attacked by a number of scam spikes. Both bulls & bears were suffering, but bears suffered the most. Therefore, by the end of flat, almost every bear was fear of opening a new SHORT position after his previous positions were closed in loss due to SHORT-squeezing spikes.
But huge players were not afraid and yesterday, right before the dump happened, we saw a number of huge sales in the $9700 - $9800 zone. Therefore, this range is the most important for now.
Bulls were trying to protect their positions as well, so we saw a number of huge purchases in the zone of $9500, but they failed and the level was broken, and breakdown was confirmed.
So, originally we have two zone of interest: $9500 and $9700 - $9800. However, because the price dumped heavily, levels moved a little bit lower and now located at $9450 and $9570 - $9650. Levels location changed because bulls had to average their positions lower than $9500 after this level was broken.
Therefore, as long as the price remains below these levels, priority is SHORT in order to at least test the ascending trend support.
What do you think about my idea? Are you agree or disagree? Share your thoughts and critics in comments!
Comment:
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Website:
klondikepro.com/
Public Telegram Channel:
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Join Bybit with us:
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Twitter:
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Email:
ekstraruto@gmail.com
Basically the plan remains the same. We don't expect any huge moves during the weekend. It seems like bulls will try to push it up again, as they defend the support quite well.
The most logical scenario is to touch $9660 level, form a bearish gap and start new week with a dump.