Hi everyone!
Still looking bearish imo. I can tell the market sentiment is starting to change but it seems like we once again rejected 9000. I think we'll see the bears take over again for a bit - I think we'll bounce pretty hard from 7000 - 7500 and the bear market will end. A double bottom or even lower would seem reasonable based upon the chart but I'm not sure if the bulls can wait that long. Too many people wanting to get another stab at sub 8k will confirm a reversal.
Long story short, don't fall for the 9000 bull trap unless you're just planning on weathering the next drop.
I'm a n00b, so don't trade my advice and then get mad if/when I'm wrong. This is just an idea, not advice.
Still looking bearish imo. I can tell the market sentiment is starting to change but it seems like we once again rejected 9000. I think we'll see the bears take over again for a bit - I think we'll bounce pretty hard from 7000 - 7500 and the bear market will end. A double bottom or even lower would seem reasonable based upon the chart but I'm not sure if the bulls can wait that long. Too many people wanting to get another stab at sub 8k will confirm a reversal.
Long story short, don't fall for the 9000 bull trap unless you're just planning on weathering the next drop.
I'm a n00b, so don't trade my advice and then get mad if/when I'm wrong. This is just an idea, not advice.