The last days have been hard for Hodlers, but good for nocoiners and shorties.
The bear is over the market.-
The superguppy show this is traders market, and the wide red investors group is slowly following along. Volume is going up.
Here is the 1 day chart with RSI, support zones and swing high low support/resistances.
I have used the zones and shorter term swing support/resistance for setting my trades the past days, this has worked well. The 0.618 fibonacci is not yet tested, the zone above held for now. The long term pink support line is broken.
RSI is near oversold. MA 100 and 200 is close to crossing, and if that happens we are probably going below 6k, even on Hitbtc.
I labeled up an ABCDE correction here, and altough the E wave is stretched down to $5500 support on the chart It also fit well being done here, about equal with wave A. 0.618 fib is no stupid place to turn either.
Here is a closeup of the 30 min chart. MA50 has broken the long term support line, and RSI is on the bears side.
These are just my thoughts, not a trading advice.
If you have another view on this post your welcome to discuss and post your charts in the comments.
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