For some reason I am not convinced with this pump to be a trend reversal.
Reasons :
1. The daily MACD is not even showing a proper bullish divergence.
2. The volume is no where near like it was at $6000 ( 06-02-2018) or $6400 (01-04-2018)
I think we might see the price up till $6300 - $6500 range (chances are we might not even see this range) , which will form a lower high and then continue with the downtrend.
As we see in past we were getting rejected by the 12 day EMA, we might just do the same this time also.
Just be cautious, ride the wave up and put tight stop losses.
If we go above $6800 then my analysis is nullified.
Comments more than welcome.
Regards,
Cryptosync
Reasons :
1. The daily MACD is not even showing a proper bullish divergence.
2. The volume is no where near like it was at $6000 ( 06-02-2018) or $6400 (01-04-2018)
I think we might see the price up till $6300 - $6500 range (chances are we might not even see this range) , which will form a lower high and then continue with the downtrend.
As we see in past we were getting rejected by the 12 day EMA, we might just do the same this time also.
Just be cautious, ride the wave up and put tight stop losses.
If we go above $6800 then my analysis is nullified.
Comments more than welcome.
Regards,
Cryptosync