Jumping off yesterdays chart. We were watching for consolidation. I was hoping the bulls would hold $6337 and they fell to $6320. Ideal scenario for bulls for this to have been healthy consolidation to me, was to see $6400-6500 range. Bulls fought for a while around $6400 but ultimately caved. They are currently back and battling the $6400 area. In order for the bulls to regain the upper hand, they need to form a lower high compared to $6655, a higher low compared to $6320 and then look for the higher high. Otherwise this turns into yet another bear flag and continuation down. I remain all cash and patiently wait for the next trade setup as the sideways action just continues to cool off RSIs and gives the bears a chance to dump price lower. Alt coins have shown some decent pumps and dumps last couple of days so tread cautiously and have stops and profit levels prepared in advance and adjust accordingly based on how prices move. Take that emotion out and have a plan!
Just My 2 Sats!
Just My 2 Sats!
