I for one am really uneasy about the price right now, I feel like its a good buy opportunity, the best buy opportunity in a while actually, but at the same time I'm not sure there is enough buy support to even hold $200. I wonder if we break $200, it could be another long fall from there. Or, if some strong buying happens, we could be in for a run up. I feel like we're right on the edge and could go wither way.
So why would now be a good buy, and what reasons (actual reasons, not just "because were going to the moon") are there for the price to stabilize and continue upward?
IMO don't try to catch a falling knife, especially as the XT vs Core drama is not over.
That said, a buy from 125 down to 50 is a very good buy because there will be almost certainly a bounce at least to 150. Especially if the drama is over (which of course will make it almost impossible to fall below 100$ and probably will send us above 240s).
If the drama is over, above 235 is a certain buy.
With or without drama, all in above 285.
Just don't be greedy to trade the 160-235 chop. Wait patiently for better opportunity.
Good choice is a short between 228-232 with a stop at 234.
I sold off what I had today just before the spike in the last hour. Don't regret it yet, I feel a crash is more likely right now. If this doesn't happen in the next few weeks, I'll keep these figures in mind so I don't get left behind before a major rally.