MS break at $18,700
$16,400 first support level, likely will retrace to 0.382 fib retracement from $5k bottom to $19.5k top ($13.9k) - first target. Second target 0.5 retracement ($12,200).
Will build long position at $13,900 down to $12,200.
Expecting the to happen in relatively short order (Mid Dec).
Good indicators to observe will be futures backwardation and negative funding on derivatives.
$16,400 first support level, likely will retrace to 0.382 fib retracement from $5k bottom to $19.5k top ($13.9k) - first target. Second target 0.5 retracement ($12,200).
Will build long position at $13,900 down to $12,200.
Expecting the to happen in relatively short order (Mid Dec).
Good indicators to observe will be futures backwardation and negative funding on derivatives.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.