Are there any bears left amongst the REKTage???
“Hey! Remember that time when I was right and you were wrong? And I made money and you didn’t? And bulls are deluded and bears are complete mongtards....”
Shuuuuuutttttt uppppppp! Please. It’s boring.
Play the game. Nobody on Trading View gets it right all the time and nobody has a crystal ball. Trust me on that. And anyone suggesting otherwise should be avoided like the plague.
For now, let’s look at our current situation.
Bounce for the last 8 hours or so has been solid, but nothing remarkable. And certainly nothing warranting a ‘sell your house and the cat and buy BTC now’ response.
As we see from the pattern we have been in for some time, this bounce doesn’t really mean much yet. We still have some major milestones to get through. First being this purple trendline, if we head up to test it, it will be about $8000 ish by the time we do. If we break that <with conviction> then we look to the next resistance at around 11600-11800 as the next major hurdle. Beyond that..... it probably really is bye bye bears! But that’s a way off yet and I’m not suggesting that’s on the cards right now.
Until then, a rejection from the purple trendline indicated or a failure to sustain this rally with any volume and conviction, will likely leave some very frustrated bulls and very hungry bears waiting to sell hard. So be warned.
If you’ve been dollar cost averaging in to your positions as I always suggest, then you should have no worries either way. And you should also have some dry tinder ready in case more buying opportunities arise. Win / Win.
Trade safe,
The Colonel xxx
Shuuuuuutttttt uppppppp! Please. It’s boring.
Play the game. Nobody on Trading View gets it right all the time and nobody has a crystal ball. Trust me on that. And anyone suggesting otherwise should be avoided like the plague.
For now, let’s look at our current situation.
Bounce for the last 8 hours or so has been solid, but nothing remarkable. And certainly nothing warranting a ‘sell your house and the cat and buy BTC now’ response.
As we see from the pattern we have been in for some time, this bounce doesn’t really mean much yet. We still have some major milestones to get through. First being this purple trendline, if we head up to test it, it will be about $8000 ish by the time we do. If we break that <with conviction> then we look to the next resistance at around 11600-11800 as the next major hurdle. Beyond that..... it probably really is bye bye bears! But that’s a way off yet and I’m not suggesting that’s on the cards right now.
Until then, a rejection from the purple trendline indicated or a failure to sustain this rally with any volume and conviction, will likely leave some very frustrated bulls and very hungry bears waiting to sell hard. So be warned.
If you’ve been dollar cost averaging in to your positions as I always suggest, then you should have no worries either way. And you should also have some dry tinder ready in case more buying opportunities arise. Win / Win.
Trade safe,
The Colonel xxx
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