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The “waterfall” mentioned last night didn’t arrive—so we continue to wait today.
A sharp spike followed by a pullback is a normal market pattern. Bitcoin tried to spike high to 640 multiple times, but it didn’t carry on. I’ve said countless times that this is a bait. Those who can understand it and take it in can keep “eating meat” in big bites; those who can’t can only watch and envy others.
Yesterday we provided several limit-sell shorts, and the short-term calls all proved correct. But on Wukong’s side, the on-site players are still holding their short-term and swing positions. When it’s difficult up at these higher levels, you should really take the opportunity and handle it well.
Today’s Bitcoin movement is very fitting for the moment—an ongoing grind lower, mostly drifting down. The current lowest is in the 624 area, but that’s not enough. The downside move hasn’t ended yet—continue to watch the 613-600 area below.