I have seen this play out over and over. Crypto twitter is neutral, then nearing a bearish cross, the opposite move happens making crypto twitter happy and monkeys fomoing.
A breakout scenario is played, but resists at the resistance (logical, right?), so the average dumb trader buys the fibonacci retracement dip thinking it's going to do a bullish impulsive wave C.
The most likely scenario would be for it to go down.
Best retards,
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My scenario is happening quite faster than I imagined.
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okayyyy that's too much buying power, might not happen
but I got the long part correctly at least
I'm cautious now
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8500 is definitely a good retracement level regardless if it's a bull or bear scenario