Most FOMO investors might have sold out by now, and rational investors waiting to buy up at 6000 to 5000. S1 is at 5k about. Harmonic bat-ish reversal pattern forming, while RSI shows oversold, MACD lots of space to go pop. Theres a short term upside prob to 7-8k and if bulls take charge above 8.5k or so we could end up in bullish market again with upside at 12k. There's a real downside to 5k then 3k.
The downside at 5k, then 3k makes this is mega speculative setup; I'd probably ease into it from now 1/3 upfront, then if it goes south, 1/3 at 6k, then 1/3 at 5k if it goes that deep and then hold probably until 12k which gives a risk reward of app. 3 which is ok. Alternative if it goes bull, I'd still do 1/3 now, then 1/3 at 8k and then all in from 9k.
Macro: most regulatory shocks have been absorbed, bla bla bla, regulation will be good and pros coming in during 2018 - there's plenty of upside.
Buy the dip, though it may go to 3k which is fine so we can get rid of "When Lambo" FOMO investors.
The downside at 5k, then 3k makes this is mega speculative setup; I'd probably ease into it from now 1/3 upfront, then if it goes south, 1/3 at 6k, then 1/3 at 5k if it goes that deep and then hold probably until 12k which gives a risk reward of app. 3 which is ok. Alternative if it goes bull, I'd still do 1/3 now, then 1/3 at 8k and then all in from 9k.
Macro: most regulatory shocks have been absorbed, bla bla bla, regulation will be good and pros coming in during 2018 - there's plenty of upside.
Buy the dip, though it may go to 3k which is fine so we can get rid of "When Lambo" FOMO investors.
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Taking a pivot view - spot on:
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Reversal pattern might be a biiiiit of a data fitting subjective thing but anyway - most of the fomo soft hands will have sold out as also indicated by sales volume spikes ... black swan are those whales who bought at last 6k test but then again - they might hold for a reason
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forgot to mention i closed at 10k and now im short down to 6000 or lower