Dear folks
My last prediction was to sell at 8.4k and wait for a buy opportunity.
This call played out well, selling at 8.4k was definitely a good move. Now the next move is to wait for 6.5k area (strong support), buy and and wait for the bounce towards 8k area (conservative target).
(Stop loss: 5.9k).
Two main reasons for this:
-
Fear index right now is very clear (remember, buying when people are panicking often generates profits)
- A
lower high is expected after seeing 10.5k and 9.5k lately, that is if the downtrend continues.
Remember: just listen to the herd, and do the opposite. Right now, the herd is selling, some think it is correlated to the virus (which I don't think it is, but whatever), the whales will be tempted to buy very soon.
Best of luck whatever your next move is!