Your Analysis rings true for me... unfortunately, I don't think most want to believe it (I don't blame them).
whaleschow
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@mhfcrypto, A bullish scenario is absolutely conceivable. The bulls can take controll over the market anytime in this chart. This is always an opportunity. This is more how a bearish scenario may play out. I would love to see some bull action, but im also fine playing this setup while it offers me a great risk to reward ratio.
whaleschow
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@whaleschow, Maybe its not getting rejected and we burst throuhg the trendline :)
mhfcrypto
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@whaleschow, of course a Bull scenario is conceivable. Nevertheless, I think the scales are tipping in the Bears favour of the next few days possibly, that's all.
I'd love to see us bounce hard off $7900 - $8000 with volume. Right now, we're meandering and sloshing around. We need capitulation.
whaleschow
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@mhfcrypto, Take a look at that. The bulls had the best opportunity to break out, but they didnt had enough steam to hold above the 8700 level.
Yeah, I don't pretend to be an Expert...the amazing thing about TA, is that people are all working with the same information, but can arrive at drastically different conclusions :-)