A new descending channel. Let's see
Updated
I believe this weekend could that we are in a new descending channel. If the price breaks the resistence line (around 9850), then our next goals are 10k and 10.5k.
It could be a milestone. Opening a short or long position in this situation is absolutely risky and I don't reccommend entering any position. However, short position with an acceptable tight stop-loss could be the best choise!
It could be a milestone. Opening a short or long position in this situation is absolutely risky and I don't reccommend entering any position. However, short position with an acceptable tight stop-loss could be the best choise!
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Latest update!
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It seems bullish for now. There is no strong sign of weakness in upwardtrend for now.
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It is clear that my previous thought was currect and the descending channel is vlaid for now. Right now price is above a very critical support of prior ascending channel which has supported it since 3800. I believe this is a determining level. Wait and see if it can be held or not. I personally avoid trading in this zone.
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