MKR is still bearish
Updated
From where we entered "start" on the chart, the price has entered the correction phase.
According to the data we have on the chart, this correction looks like a diametric diamond pattern.
A supply resistance range is formed on the chart, and if the price reaches this range, we expect the price to reject downwards.
We expect that the last wave of this pattern will be completed on the green range and then the price will be pumped upwards.
Closing a candle below the invalidation level will violate the analysis.
For risk management, please don't forget stop loss and capital management
When we reach the first target, save some profit and then change the stop to entry
Comment if you have any questions
Thank You
According to the data we have on the chart, this correction looks like a diametric diamond pattern.
A supply resistance range is formed on the chart, and if the price reaches this range, we expect the price to reject downwards.
We expect that the last wave of this pattern will be completed on the green range and then the price will be pumped upwards.
Closing a candle below the invalidation level will violate the analysis.
For risk management, please don't forget stop loss and capital management
When we reach the first target, save some profit and then change the stop to entry
Comment if you have any questions
Thank You
Trade active
By hitting the red box, it dropped more than 12% so farTrade active
After the rejection from the supply side, it pumped more than 16% by hitting the green range
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