News dump in response to Japan telling exchanges they need to change their systems to quell money laundering. Yeah I used quell.
I personally am not trading any oversold bounces until 4 hour RSI gets down to 20. Too many bear flag weak bounces the last 6 weeks.
Bears have complete control after daily EMA rejection and now it is just a question of if the bulls can hold the daily lows.
ETH has a lot more space to work with before we get to the daily low vs. BTC.
Remember RSI levels can get more extreme on news, and there is a lack of bulls buying the dip with market sentiment very low.
I will continue trading other markets like Canadian MJ until the bulls change the trend on the daily, or until RSI levels get to the extremes.
Congrats bears.
I personally am not trading any oversold bounces until 4 hour RSI gets down to 20. Too many bear flag weak bounces the last 6 weeks.
Bears have complete control after daily EMA rejection and now it is just a question of if the bulls can hold the daily lows.
ETH has a lot more space to work with before we get to the daily low vs. BTC.
Remember RSI levels can get more extreme on news, and there is a lack of bulls buying the dip with market sentiment very low.
I will continue trading other markets like Canadian MJ until the bulls change the trend on the daily, or until RSI levels get to the extremes.
Congrats bears.
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Improve your TA with our free ebooks chartguys.ac-page.com/lp-all-ebooks?utm_source=tradingview&utm_medium=social
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Checkout our full trading resources online chartguys.com
Improve your TA with our free ebooks chartguys.ac-page.com/lp-all-ebooks?utm_source=tradingview&utm_medium=social
Improve your TA with our free ebooks chartguys.ac-page.com/lp-all-ebooks?utm_source=tradingview&utm_medium=social
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.