In stocks we say " the trend is your friend"...guess who is your enemy..right? Right! Now, all the smarties that got in hoping for the $100,000 level by New Years, they cant wait to sell as soon as they recoup...right now they bite their nails -particulalry inexperienced traders... so everything above $13000 becomes tremendous resistance!! For me to become bullish
in this madness I will have to see buying appetite in serious volumes above the $19000 level..dont see it happening anytime soon (if ever frankly)..we are gradually deflating to $8000 level...if you want to be a buyer (and you are not an experienced trader) put a stop to buy above the most recent high acceptable to you (in case we have serious reversal). Even that should for a swing trade as the trend IS NOT YOUR FRIEND here...I dont want to short this madness either...For the past few days I am only doing small swing trades..using the day, 4 hr
, 15, and 5 min frames.