BTC retraced as expected.
Doesn't look super convincing on the bounce so I'd wait for it to post some actual volume or a good period of consolidation before putting out longs. If we move up watch how we act around the previous support level. If this turns heavy resistance expect more downside.
Interestingly, looks like the whole pump up close to the ATH was a BART. If that is the case I'd expect more downside before the institutional money decides to re accumulate. Certainly doesn't seem like they are doing it yet, which makes me nervous this is a fake bounce.
Like I said, wait for volume.
This is not financial advice.
Doesn't look super convincing on the bounce so I'd wait for it to post some actual volume or a good period of consolidation before putting out longs. If we move up watch how we act around the previous support level. If this turns heavy resistance expect more downside.
Interestingly, looks like the whole pump up close to the ATH was a BART. If that is the case I'd expect more downside before the institutional money decides to re accumulate. Certainly doesn't seem like they are doing it yet, which makes me nervous this is a fake bounce.
Like I said, wait for volume.
This is not financial advice.
Come hang out with me on telegram, it's free and I won't be too mean too mean to you:
t.me/KadnimCrypto
t.me/KadnimCrypto
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