We bounced off the interesting line for reversal, in addition there was a reaction at the 0.786 FIB level, the wavereader will soon give a sell signal. The signs are short to 0.8525
Clearly visible. The target of the C&H is the monthly S/R. 2 Weekly S/R are still in the way, may take time. WR is bullish
We have seen a clear break of the 75+ day uptrend. The wavereader has also turned bearish in HTF. Let it come back to the retest, then you can design a short plan.
Trade becomes active with Wavereader 30m sell signal, provided we are then still in the region that is attractive from the R:R ratio.
We just changed bearish in 15m and 30m TF. I expect the test to the upper SR and used this as an entry.
Waiting for confirmed breakout -> buy the retest
I expect the price to hold above the double support consisting of the trend line and 4h S/R and to approach the weekly S/R again. a long trade as indicated in the LTF is therefore not the worst idea. 15m buy signal would give the whole idea even more approval
I will just trade this, if we get a 4h candle close above the current SR level and receive a buy signal from the wavereader.
We are at a zone where we encounter three reasons to resist. 1. 0.786 FIB Level 2. descending trendline 3. 4h S/R level In addition, we have 2 sell signals of the Wavereader. I don´t need any more reasons to try a short here.
I think we will see that way. This would drive people crazy again. Around 37k-38k you can think about selling orders again.