short term and long term chart review...where to buy?!!
Updated
Hi everyone
finally War & Inflation could conquer to all technical analysis and after some
range move the price capitulated to drop.
we should also consider all main stock markets INDEX around the world are bearish
that would affect on crypto market too.
although I looked forward the price hit 34K before the drop but didn't happen...!anyway
in 4H timeframe on the chart you can see how price broke the ascending channel
downward and dropped to where the bearish flag pattern rule based lead it.
so based on this bearish flag our estimation target would be around 19450.
but... let's see what we have on monthly timeframe:
........................................................
if we look monthly chart, the candle just broke the 200MA (weekly) but still wouldn't
hit the lower line of our Bollinger bands. the estimation of the B.band is quiet accurate
to our 19K estimation on 4h chart.
however the price might drop to the 300MA (weekly) as well. if that so the target
would be around 16600$. in the worst case it could break the 300MA downward for the
first time of it's history ever... and hitting 12K is possible at this scenario.
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
now what should we do?
frankly I myself don't wait it for 16K or 12K. I buy based on DCA strategy level by level
I'm not suggesting you do the same. everyone has it's own strategy, but I suggest you
where ever the bottom is "DON'T LOOSE IT".
I also look forward to see your view and ideas.
Enjoy the market
finally War & Inflation could conquer to all technical analysis and after some
range move the price capitulated to drop.
we should also consider all main stock markets INDEX around the world are bearish
that would affect on crypto market too.
although I looked forward the price hit 34K before the drop but didn't happen...!anyway
in 4H timeframe on the chart you can see how price broke the ascending channel
downward and dropped to where the bearish flag pattern rule based lead it.
so based on this bearish flag our estimation target would be around 19450.
but... let's see what we have on monthly timeframe:
........................................................
if we look monthly chart, the candle just broke the 200MA (weekly) but still wouldn't
hit the lower line of our Bollinger bands. the estimation of the B.band is quiet accurate
to our 19K estimation on 4h chart.
however the price might drop to the 300MA (weekly) as well. if that so the target
would be around 16600$. in the worst case it could break the 300MA downward for the
first time of it's history ever... and hitting 12K is possible at this scenario.
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
now what should we do?
frankly I myself don't wait it for 16K or 12K. I buy based on DCA strategy level by level
I'm not suggesting you do the same. everyone has it's own strategy, but I suggest you
where ever the bottom is "DON'T LOOSE IT".
I also look forward to see your view and ideas.
Enjoy the market
Trade active
our first target hit as expected.I need to remind this important point that when I notice important level it means that level is our key level.
so the bottom can be between those levels I mean between 19450 and 16600.
in detail I showed other levels between these two key levels. that price can bounce up from every each one of them.
Trade active
you can see how price bounced after testing between two levels18420$ and 17400$ I mentioned. this is not the meaning of bullish confirmation. yet we must wait to see more significant signs for short term bull trend. but surly price needed to correction upward.
Related publications
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.