Let's make some predictions
Here's a rough Idea of what I expect from King Corn in the next week or so. Everyone wants $8200 right now...not gonna happen, not yet at least. Wait until we get a little bump up and "it seems so crazy"... we all know crypto sentiment is fast moving.....3 days or so above 9k and people will say no dips ever again.
Zoom out to the weekly and until we can see a close above $9400 on a weekly candle, and reclaim it as support, I am expecting these bids from 8k-8225 to get filled. Let's just hope she bounces from there.
A rejection from $9250-9400 would make for a pretty good short signal IMO, but placing shorts there ahead of time is pretty dangerous. I would want to see a confirmed rejection before I short into all this support. Waiting with low bids, if 8k don't bounce, lower levels I'm looking at are 7400ish, 6400ish and god help me, 5700ish.
Zoom out to the weekly and until we can see a close above $9400 on a weekly candle, and reclaim it as support, I am expecting these bids from 8k-8225 to get filled. Let's just hope she bounces from there.
A rejection from $9250-9400 would make for a pretty good short signal IMO, but placing shorts there ahead of time is pretty dangerous. I would want to see a confirmed rejection before I short into all this support. Waiting with low bids, if 8k don't bounce, lower levels I'm looking at are 7400ish, 6400ish and god help me, 5700ish.
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.