However my bet is on the trend breaking down... on these smaller timeframes we have the MAs coming in to act as resistance, and also the 7000/6999 range acting as a magnet at this point.
We may bounce off 7k, but from the looks of all the longer timeframes, this will most likely be a weak bounce as we break further down, retest the lowest low and then break that like a pregnant ladies water.
I'm got some limit buys set right around and under the 7k range to take advantage of any small bounce, but after that. Not planning on trading in the 6k range, but will watch closely as we plummet to the 5k-4k range.
Stay safe! Keep your stop losses tight!
We may bounce off 7k, but from the looks of all the longer timeframes, this will most likely be a weak bounce as we break further down, retest the lowest low and then break that like a pregnant ladies water.
I'm got some limit buys set right around and under the 7k range to take advantage of any small bounce, but after that. Not planning on trading in the 6k range, but will watch closely as we plummet to the 5k-4k range.
Stay safe! Keep your stop losses tight!