We can see a strong R (resistance) in W (weekly) chart and a upside TL (trend line) in W chart as well. The price touched five times that TL.
Now the price is on 0.618 of my Fibbonacci Retracement and we can see that the last W candle shows a long wick under 0.618 of my Fibb. My RSI 5 is at 82%.
The price could drop to 0.382 or even 0.236 and after that it'll go upside to that strong resistance.
I'll wait for shorts now.
Now the price is on 0.618 of my Fibbonacci Retracement and we can see that the last W candle shows a long wick under 0.618 of my Fibb. My RSI 5 is at 82%.
The price could drop to 0.382 or even 0.236 and after that it'll go upside to that strong resistance.
I'll wait for shorts now.
Yorum:
After a retest of 0.382 or even 236, I'll wait for buys.