-Long bullish candle rejected support zone; fakeout confirmed.
-1H; inverted H&S maybe?-
Yorum:
Price must go beyond $10450, before I decide to enter. At bitcoins current price, the exchange rate would have broken through all stop levels. the cryptocurrency market itself lost nearly $39 billion in market capitalization as sellers tried to find bids.
There is no one clear reason for the sell-off, but the daily chart has been warning of a move for the last 2-3 weeks as a descending wedge (triangle) pattern took shape. I had originally envisaged a rise due to the strong hold of the support. However, the moment the horizontal support zone was broken, the sell-off accelerated all the way down around $8,000 before a small pullback.
Again, re-instating my main focus.. I will be waiting to go long, once price moves in my favour. I don't trade against the current trend, I follow it. If it's not moving up, I'll wait.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
There is no one clear reason for the sell-off, but the daily chart has been warning of a move for the last 2-3 weeks as a descending wedge (triangle) pattern took shape. I had originally envisaged a rise due to the strong hold of the support. However, the moment the horizontal support zone was broken, the sell-off accelerated all the way down around $8,000 before a small pullback.
Again, re-instating my main focus.. I will be waiting to go long, once price moves in my favour. I don't trade against the current trend, I follow it. If it's not moving up, I'll wait.