8.9. I wrote that we are dealing with another high volatility candle which tends to work as support or as resistance. A sufficient time has elapsed between then and now - a key condition for traders to calm down and put orders in this predictable area and increase the area liquidity as a result.
Now, the price got exactly where I wanted it and I am going long on EOS and BTC.
Bitcoin probably followed stocks in their off-a-cliff run. No surprise there, but I think there will be a slow retracement. Those who pushed it down in the first place need liquidity to close the orders. On the other hand, a lot of DUMB MONEY HEDGE FUNDS were overleveraging on longs and might panic. Anyway, I think that cryptocurrency long is good RR right now. Just don't hold too long.
Now, the price got exactly where I wanted it and I am going long on EOS and BTC.
Bitcoin probably followed stocks in their off-a-cliff run. No surprise there, but I think there will be a slow retracement. Those who pushed it down in the first place need liquidity to close the orders. On the other hand, a lot of DUMB MONEY HEDGE FUNDS were overleveraging on longs and might panic. Anyway, I think that cryptocurrency long is good RR right now. Just don't hold too long.
