Thanks for the comments. I think that there is a bigger potential move to the downside rather than the upside. If it dumps I think it is going to do so very hard as all those late buyers start to cover their position. While it is oversold or there is divergence, my strategy is to keep shorting and take breakeven trades or small wins/losses while it moves higher. At price extremes (overbought) I prefer to be sitting in a short trader rather than a long trade. I will only buy after a significant retracement 38.2 fib or more. Good look with your trading!
jryda
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8310 is hourly support then up IMO
jryda
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that's a long way down for now eeeek gl
Morbid33
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@jryda, bears are getting crushed every time BTC moving up for no reason. Irrational exuberance.
jryda
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@Morbid33, it should dump hard just when is the question
Morbid33
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@jryda, I dumped a long time ago and don't regret it. Market is acting irrational, but I did notice that BCH is capped every time it tries to push above 1600 it gets slammed. Observing very closely this might be the biggest short in history and exchanges might be unloading their BTC's. Hard to tell for now I'm going to sit on side lines and watch.
This might go on until Dec 11, Wall St. can't have a massive decline in prices before the futures contracts are deployed. They'll allow prices to correct and take the other side of the trade in paper and vuala they make a ton of money, might even make them solvent again.
Wash, rinse and repeat, they might be going long on bch too.
This is my opinion only do not trade based on my theory.