The price is in a triangle and in the demand zone (support)
This demand zone has a relatively large trading volume before,
so the current support is still valid.
But price is below MA200,
and MA 200 is just around the resistance line of the triangle
price is also approaching the end of triangle
It should come out a movement but direction is unknown
News and the stock market of larger finance system impact cryptocurrency trend a lot.
1. If the price breaks through the resistance of the triangle
reach the lower supply zone (lower red block)
**clear short signals appear **
Here is the first short position
Entry SL TP are all on the chart
2. If the price falls below this demand zone (break below triangle)
It means that the original support becomes resistance
**clear short signals appear**
Here is the second short position
entry TP1, 2, 3 and SL are all on the chart
If palce order here and reach TP1, remember to adjust SL below entry price,
because there is still support underneath.
The above analysis are all personal opinions
entry, SL, TP can be adjusted personally to prevent fake move, stop hunt
None of the above is investment advice
This demand zone has a relatively large trading volume before,
so the current support is still valid.
But price is below MA200,
and MA 200 is just around the resistance line of the triangle
price is also approaching the end of triangle
It should come out a movement but direction is unknown
News and the stock market of larger finance system impact cryptocurrency trend a lot.
1. If the price breaks through the resistance of the triangle
reach the lower supply zone (lower red block)
**clear short signals appear **
Here is the first short position
Entry SL TP are all on the chart
2. If the price falls below this demand zone (break below triangle)
It means that the original support becomes resistance
**clear short signals appear**
Here is the second short position
entry TP1, 2, 3 and SL are all on the chart
If palce order here and reach TP1, remember to adjust SL below entry price,
because there is still support underneath.
The above analysis are all personal opinions
entry, SL, TP can be adjusted personally to prevent fake move, stop hunt
None of the above is investment advice
Trade closed: target reached
If did placed the order,had reached TP
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.