Agreed, our hesitation in how to classify that comes from looking at the 5-day chart where it looked like there was a recovery on the 8th, but this was very quickly followed by the precipitous drop that occurred approximately 15 hours ago. Divergence could signal a full rebound, but our reading of the 5-day chart is that making that assumption would be quite risky, and we would really only do it for a medium investment amount, gambling on riding a minor recovery up for a few hours and dumping before the next slide. Unfortunately, we would not be surprised if the market dips back down to the $500 mark within the next week. What are your thoughts?
Great analysis cryptonews! Sorry forgot to upvote. I agree with you the risk rewards are not there for the short term divergence play. Let’s hope it drops below 500, the cheaper it stays the more opportunity the little guys have to get in. Looking forward to your future posts.
Agreed, our hesitation in how to classify that comes from looking at the 5-day chart where it looked like there was a recovery on the 8th, but this was very quickly followed by the precipitous drop that occurred approximately 15 hours ago. Divergence could signal a full rebound, but our reading of the 5-day chart is that making that assumption would be quite risky, and we would really only do it for a medium investment amount, gambling on riding a minor recovery up for a few hours and dumping before the next slide. Unfortunately, we would not be surprised if the market dips back down to the $500 mark within the next week. What are your thoughts?
Great analysis cryptonews! Sorry forgot to upvote. I agree with you the risk rewards are not there for the short term divergence play. Let’s hope it drops below 500, the cheaper it stays the more opportunity the little guys have to get in. Looking forward to your future posts.
@owinvestments May I ask what would have earned your upvote on this post?