Sooo, I was dead wrong last month and be the first to admit that one. I was overly bearish, anticipating them to reach the bottom faster than not. However, now that we've received a decent rally, and MANY are "bullish", I believe a trend switch is coming and before it squeezes because many are anticipating/hoping for a squeeze. Yes, there's a huge gap that needs to be retested 25k to 28k at least, and can argue to 30k.
Considering a myriad of factors, my best educated guess is that a reversal and return to the bear market is coming very soon (potentially this coming week). Please see the captured image for my roughly translated TA to see what I see coming. I do not believe we break the resistances to squeeze. It'll test the 25.4ks, but will continue to be held off, where they'll take up more short positions, grinding it down to what could be the next level (and potentially THE FLOOR) - 13.5k to 13.8k to bounce like it did at 17.8k and consolidate around 15k.
Next big move is coming soon, whether that's to the upside and or downside, only time will tell. Set stop losses, and manage your risks. Follow the charm (flock of goldfinch), and obtain the gold. Let's make some money. Good luck, traders!
Considering a myriad of factors, my best educated guess is that a reversal and return to the bear market is coming very soon (potentially this coming week). Please see the captured image for my roughly translated TA to see what I see coming. I do not believe we break the resistances to squeeze. It'll test the 25.4ks, but will continue to be held off, where they'll take up more short positions, grinding it down to what could be the next level (and potentially THE FLOOR) - 13.5k to 13.8k to bounce like it did at 17.8k and consolidate around 15k.
Next big move is coming soon, whether that's to the upside and or downside, only time will tell. Set stop losses, and manage your risks. Follow the charm (flock of goldfinch), and obtain the gold. Let's make some money. Good luck, traders!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.