4Hr Chart
We are approaching the resistance of the falling wedge pattern which is still about 50 points above us.
We had consolidated at the 50 EMA for a while, and our RSI that were overbought at the time slowed bitcoins momentum.
All of our Stochastic RSI's are aligned once again in the overbought range, above 80: 5, 10, 15, 30, 2hr, 3hr, 4hr, 8hr
We have just a little bit of room left to go on the 1hr, possibly enough to get let us hit our resistance, before falling.
For one .. alt coins are difficult to manage in extreme market conditions personally I suggest having it all in BTC if your an active trader to get in and out easily. This would be a good time to tether some of your alts if you are fearful of continued bearish momentum.
If we break and hold above our falling wedge then we can consider some short term bullish plays. Personally, I would like to see all of our RSI's in the oversold area once again before buying heavily.
We are approaching the resistance of the falling wedge pattern which is still about 50 points above us.
We had consolidated at the 50 EMA for a while, and our RSI that were overbought at the time slowed bitcoins momentum.
All of our Stochastic RSI's are aligned once again in the overbought range, above 80: 5, 10, 15, 30, 2hr, 3hr, 4hr, 8hr
We have just a little bit of room left to go on the 1hr, possibly enough to get let us hit our resistance, before falling.
For one .. alt coins are difficult to manage in extreme market conditions personally I suggest having it all in BTC if your an active trader to get in and out easily. This would be a good time to tether some of your alts if you are fearful of continued bearish momentum.
If we break and hold above our falling wedge then we can consider some short term bullish plays. Personally, I would like to see all of our RSI's in the oversold area once again before buying heavily.
Kommentera:
Placing a Fib from our 9k High and our low we have a .382 retracement at 7445 which would satisfy a pullback.
