There's a likely hood that it might continue to rally to 46k area but my bias is towards another retracement.
However, I'm waiting for rejection in some form of price action at the 4H chart. Currently, it's doesn't look like it yet. There was 2 long tail candlesticks, which usually messes up price action reading.
Anyway, potential 2k upside is still plausible but I think the risk is high as there's no proper price to set your stop loss. Hence, for me, it's still better to wait for confirmation at the 4H chart & trade the retracement.
Depending on where the turning point is, we will set the expected target profits area.
Trade cautiously!
Disclaimer: I'm not giving any trading and investing advice. I'm just sharing my chart observations.
If you have any symbols that you'd like me to analyze, feel free to drop me a comment.
However, I'm waiting for rejection in some form of price action at the 4H chart. Currently, it's doesn't look like it yet. There was 2 long tail candlesticks, which usually messes up price action reading.
Anyway, potential 2k upside is still plausible but I think the risk is high as there's no proper price to set your stop loss. Hence, for me, it's still better to wait for confirmation at the 4H chart & trade the retracement.
Depending on where the turning point is, we will set the expected target profits area.
Trade cautiously!
Disclaimer: I'm not giving any trading and investing advice. I'm just sharing my chart observations.
If you have any symbols that you'd like me to analyze, feel free to drop me a comment.
Trade closed manually
The bulls are strong!Might be heading to 48k
Note
Spoke too soon :)
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.
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.