People are calling 9500 the bottom of BTC but is it?

I am seeing plenty of comments and ideas calling for $9500 being the bottom of this correction, which may well be true but strewth I am not even looking at pulling my shorts or placing any longs until I see some more bullish signs, MACD is dead flat, the Aaroon indicator shows the downtrend is showing no sign of decay, I like to use as one of my strategies a set of MA's 5,8,13 and until 5 & 8 are moving above the 13 we are still in short mode. Patience is the key here, we all to often jump in to early and don't wait for the trades to come to us, it ends up costing us long term, I know from past experience and it is a lesson I would rather have not learned the hard way. To be fair, for many of us, have will only learn by pain.

評論: Pull Back in process,
Have a look at the 4 hour RSI.
TroyByrne wernerbh
@wernerbh, Yes very oversold but it can maintain this for extended time, Im not saying we wont see pullbacks on the way back down. The daily chart says it all and we still have a way to the H&S complete drop.
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