Reacting to this gold comment
Actually 62.8k is not just an ordinary support. It's a tripple band KDJ support zone that runs from 62.8k, 63.5k, and finally 64.1k.
As of now, neither of the three KDJ support band has been broken by the bears, since price bounced back almost immediately after touching 62.8k. Yup, all the three support line will still hold up in case a red candle will visit again.
So, the question is, will it go up from this point?
The answer is YES, since the KDJ oscillator is still suggesting a bounce back to the 71k zone. However, candles has to satisfy the 12H KDJ 64.6k dive down, before a green candle can finally go and hit the 71k target.
As I've mentioned yesterday, the bears have managed to accumulate a huge sell volume at 64.6k. To pacify the selling pressure consolidation or moving sideways from 63k to 65k will most likely happen first, before candles will pursue the 71k KDJ target.
If you'd like to jump in, and buy the dip, the ideal entry is somewhere between 63k-64.6k.
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