Chart illustrations rather self-explanatory. Just the way I see it PROBABLY going in the next few days.
Weak Bull-Volumes and follow-throughs recently. Thin Volumes overall.
Chances are if we close a few 4HR Candles below $5800, Bears and Panic Sellers will probably plummet us to maybe $4900 relatively quickly. Little bounces in-between aren't Trend Changes, remember that.
In Fiat awaiting the Market direction either way.
Stay Sharp.
Weak Bull-Volumes and follow-throughs recently. Thin Volumes overall.
Chances are if we close a few 4HR Candles below $5800, Bears and Panic Sellers will probably plummet us to maybe $4900 relatively quickly. Little bounces in-between aren't Trend Changes, remember that.
In Fiat awaiting the Market direction either way.
Stay Sharp.
Note
The little pump caused by positive Tether news today fit almost perfectly in to my yellow squiggly line.Note
Let's ignore the declining Bull Volume on the Daily... Yep, let's just ignore it :-)Note
Note: On my original Post, I meant to write "$4900" in the green text area on the Chart. You'll see I've corrected it in below image. Thanks.Update: MACD (4HR) has crossed Bearish. The next 12-16 will be make or break. If Bulls don't show up with some real conviction, then Mr Yellow Squiggly Line will be showing up to collect his Debt owed.
Note
Geez...I wrote "4900" again just above! I meant $5900! Maybe Freudian Slip? HmmmNote
Well... Mr Yellow Squiggly Line looks like he was kinda psychic...?
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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.