After so long time, the price here is still in a oscillating trend.
I am waiting for more signals to prove which side is strong.
Note
The price is breaking the support-line, which is also the neck-line of a small scale double top pattern.When the closed price of this day's candle stick is under the neck-line, that reverse pattern will born.Buyers of long positon can stop loss when the price retest the neick-line.
And good news is that, the height of this reverse pattern is only 5.9%, and price target is at about 28300 usd.
Note
The closed price of this day's candle stick is under the supposed neck-line.The breakdown is weak and under a low volume, which means it is very probably that a strong rebounce return back in the double-top area.
A weak break down means the supposed new born double-top pattern may die young and the downtrend price may not go far.
Note
Last day's candle tested the potential double top neck line for a second time under a relatively low volume.it is a successful test and means price down.If this day's candle closed price below 29522, downtrend will resume.
The price is breaking down.
I did nothing but waiting for the closed price of this month.
It seems that i was wrong, and had missed out a good opportunity to short it.
At least half of my analysis was wrong. A really bad experience.
Wish to do it better next time.
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.