- There are now 33,260 longs vs. 16,000 shorts. So, fuel both ways. This means I want a tight stop-loss because its common for price to tank after local-long highs, although it often rebounds strongly afterward (in the bull market at least... now, this probably just useless info).
- A potential W-bottom forming here on the 4-hour (for like the 3rd or 4th time that I can remember during this mega-dump, each invalidated)
- We wicked up to $7012 at 1:30am, from a low of $5,921 at 11:30pm, now back down to $6,349
- I *feel* like this is a great Long opportunity, with stop-loss
- some bullish news in the form of CFTC (take no harm approach" to crypto)
- 1am was the first time on the 30 chart, since February 3rd 22:30, that we've touched the upper band
- fwiw, last time that resulted in massive dumps
- so its certainly a possible "headfake"
- A potential W-bottom forming here on the 4-hour (for like the 3rd or 4th time that I can remember during this mega-dump, each invalidated)
- We wicked up to $7012 at 1:30am, from a low of $5,921 at 11:30pm, now back down to $6,349
- I *feel* like this is a great Long opportunity, with stop-loss
- some bullish news in the form of CFTC (take no harm approach" to crypto)
- 1am was the first time on the 30 chart, since February 3rd 22:30, that we've touched the upper band
- fwiw, last time that resulted in massive dumps
- so its certainly a possible "headfake"