Quote from: Copetech on Today at 08:22:29 PM

Quote from: dragonvslinux on Today at 06:49:07 PM

Quote from: El duderino_ on Today at 06:31:51 PM

Are we Bulls again?

Short-term I'm not convinced this bounce will create a new high. Closing the day above $21.3K could change my mind though, as this would be above the previous highest close of November. Likewise closing the week above $20.9K would also achieve this same affect as this was previous highest weekly close. At least now after some consolidation there's room for the Daily RSI to return to 90 in the $22K-$23K range it seems.

For the immediate term I'm back to being neutral while price consolidates between $20.5K and $21.5K. I think that's the sensible/conservative approach for the moment. Still only looking for a(nother) short-term short position though while price remains overbought, but clearly not while price is moving back to the upside. Correction to around $19.5K before further upside would be healthiest scenario imo.

So... I'm guessing converting $22k resistance into support and closing around $22.3k would also be an "optimistic" sign in your view?

Personally I don't see $22K as resistance, maybe more like $22.8K which was the September high, but not convinced that would hold back price either. I only really see 90 RSI as "temporary" resistance level for overbought levels for now, but currently we're at 85 so have further to go than expected. Everything above $21.5K looks bullish to me for now, as this would create new high closes on Daily/Weekly time-frames.