Right now the bears seem to be back in control. There is not point in trying to guess where the trend will go, because the market seems a little artificial to me right now. We keep having good news, but the market keeps falling down. Most of the time the dumps come with no heads up, and other times it seems to be following a certain time. If you go to the 4h time frame, and look at the dumps in the 7th, 8th and 10th March, they all started in the same hour. This doesn't seem very natural to me, and it looks like well coordinated bitcoin sell outs.
I will continue in all cash mode and try to get into some oversold bounces, but even on those I will be very picky, because lately we keep end up seeing oversold conditions in the 15min time frame, and sometimes even on the hourly time frame, but we get no follow through. Instead we get some consolidation too cool off RSI, and then we see another dump.
Very hard to trade right now in crypto, we need to be very selective.
I agree that now is too hard to trade, maybe we need to wait the better signal from the market. I still reserve the viewpoint that the price of bitcoin will across at price range 8,000 - 10,000 in the next 2-3 weeks before starting new trends. I will continue in all cash mode and try to get into some oversold bounces, but even on those I will be very picky, because lately we keep end up seeing oversold conditions in the 15min time frame, and sometimes even on the hourly time frame, but we get no follow through. Instead we get some consolidation too cool off RSI, and then we see another dump.
Very hard to trade right now in crypto, we need to be very selective.
