[BTC] Unexplained Volatility continues - short term analysis 12.3.18.

Hi All, Crypto Sludge here.

I am still baffled by the market movement the last 48 hours, I been going over the fundamentals, trying to find some news to explain this rapid movement, and came back empty handed.

Are we really in a full blown bear market? And these are just the last of the bull traps? - i am not 100% convinced yet. But it does starting to look like one.

Well, regardless of the market, we are here to make profit. And even in a bear market it's possible, you just need to have a good risk management (use stop losses people!) and more vigilant for opportunities.

Looking at the 1H chart, i do see a short breather , and good chance of an up movement, if only for a short period until re-evaluation.

We got a TD9 buy just coming in and an oversold stochRSI starting to point upward.

The shorts stacking on Bitfinex is calming down a bit.

But! If we look on the 4H chart, we are about to have a nasty 200MA over 50MA death cross. And that is not a good sign, not a good one at all.

So my thought on this , is that we might have a short recovery i give that about 60% chance, but in the next 2-3 hours, i am expecting the continuation of the downtrend , i give that about 80% chance.

How low will we dip? my current support point is the Make trend line, generated by this TD9 Buy @8620$ - bellow that we might start to see panic go in, and then it's a whole different ball game.

Stay Strong!

Trade ON!

Crypto Sludge.