It might be worth joining the short side, either on retrace after this week, or breaking down below the level I'm setting alerts at here. I'll watch the daily and weekly charts closely to short it, if viable. Otherwise, will be glad to pick it up on the long side after this drop pans out (and Charlie Lee, will probably do the same as well...)
Best of luck,
This will break down explosively.
You would be indeed wise to buy after this trend here bottoms...I'd buy a larger allocation in BTC, ETH, then some % for a few other coins and ICOs maybe.
My logic--a nice wick to there would really catch everyone with their pants down yet again for another bull trap in the bear trend. That said, that's the most optimistic case for me, 8250 probably more realistic. And of course theres a chance we do not even make it to 8k and before the next leg down, the thing is there is an awful lot of shorts that have not closed yet...
Could is key word. Below the stop loss, within the timeframe, price can fall to the targets on chart. Would need to show obvious signs of contraction of the ranges for me to doubt. These signals are in line with the long term trend here, odds are very high.
Let's wait and see. Sentiment doesn't inspire me to buy.