Dead cat bounce?
Looks like that may be a relief rally to reset the indicators, RSI was was over done, couldn't go down anymore.
I think we will go back down to test at least the lows from yesterday, if we go below that we are going to retest the $5800 level for perhaps a weekly double bottom.
If that breaks say hello to $5000 and beyond.
https://www.tradingview.com/x/jV98O2rf
I can possibly see something like this play out.
Have to wait and see then what way it goes.
Possible bounce up again but the trend is your friend.
https://www.tradingview.com/x/xsY8xjiN
Bit of a bounce but i see it going not much further.
https://www.tradingview.com/x/QqfDrZGO
least heading down to retest them lows.
Shorts on Bitfinex have gone through the roof, and could lead to an epic short squeeze.
Bears are confident, I don't like it.
https://www.tradingview.com/x/8KEynTuf/
Going down.
1hr death cross coming should at least take this to our target.
Bulls are weak, bears are confident.
https://www.tradingview.com/x/UqTSpEFk
possibility of a bounce off the 38.2% fib retrace from that move up.
Not banking on it but with shorts so high we could have a brave attempt by the bulls, I don't like the bears being so confident.
The crowd is normally wrong, but the trend is your friend.
Everything is short term time perspective until we have a more clearer trend.
The trend is clearly down, but was that move a dead cat bounce or the start of a reversal?
https://www.tradingview.com/x/eo12JiQV
Wow another big bounce. made a higher low on the 4hr and now a possible bull flag on the 15 kmn.
Can we make a higher high?
Bulls need to step up.
If we can get above $6800 bears will start to panic and if we get above $7000 they are going to have to start short covering.
Shorts are high and we could get a squeeze.
https://www.tradingview.com/x/GnLMCMC2
That failed.
Possible bear flag forming.
https://www.tradingview.com/x/0k53x7xG
