Here we go:
1. are not showing us any , just a straight negative channel. This mean's we're in this channel until we break out of it.
2. The I drew is a 200 Day on the 4hr chart, which corresponds to 50 day on the . This has been running down with the upper resistance line, and will help act as strong resistance until we break above it.
3. 4hr has been our best friend (if you're playing it short).
4. Take a look at the last time everyone tried to call a bottom? See the pattern? The lower on the recovery is a BAD sign. We want to see pick up, not decrease to confirm a move.
5. has not shown any overbought conditions in a while. Every time we get close, the selling pressure resumes.
Unless we see a break above the , , and cloud with , I'm calling for lower BTC . If you played the bounce long here, I would scale out of some of your green positions (XRP, NEO, BTC ) and wait for confirmation.
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Feel free to ask any questions about this .