Did we break the floor???
Updated
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Did we break the floor and are bears ready to take control??While typing this i am taking tea, that means i don't really care where the price is going but let me make it clear to you guys, who follow me and asked me to make some idea about future.
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Though this is not a question to be asked as we can see price already plunged through 6000$. 6k was a barrier for bulls or bears to get active but as we know traders don't trade according to exact line supports or resistances. Almost every trader consider an area to be support or resistance. so the support area was 5770$ to 6000.Unfortunately price has broken this support area with huge selling volume. Currently price is hanging between 54 and 5600$. Actually we have a little support near this area 5400$. If price breaches this 5400$ support then be ready for Green marked areas. But as long as price is above this tinny support i am personally a bit bullish , Price has to retreat to that 5800$ to 6000$ if we see a rejection from that area this means bears are ready to infiltrate the market. On contrary to this if we can hold 6000$ then for sure Bulls are going to take control of this manipulated market. and so on.
Real problem is , breaking 5400$? whats then?
if we break 5400$ , then for me psychology barrier of 5000$ is not going to work. Price must hit those highly demand area for getting some fresh money to push price higher. if we break 5400$ then 3000$ to 3500$ is imminent and even 1800 to 2000$. Markets need fresh money to get fresh move. The only reason there is money in the markets is that other traders put it there. The money you want to make belongs to other people who have no intention of giving it to you..
Never trade emotionally , be like Habib Abbasi who don't care what is going to happen. I always have plan B if market don't respect me . I am neither bear nor a bull. i pretended to be bull or bear according to that market delivers to newly born baby inside my mind.
Good luck every body ,don't be emotional, while trading be logical.. Follow probabilities not possibilities.
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