Greetings all.
Hope all is well!
So wow what a week for crypto. Seems the bears are still in control and braking every major line with ease. Personally I do not feel comfortable to be in the crypto market for too long so I just play the brakes and then get out. After mid November we've seen a stall in buying power and the bear continuation was confirmed afterwards by braking major resistance and the spiral continued. Most likely because most have been scared off. Luckily we can ride both trains :)
I'm looking for a breakout to the bottom so I'm eyeing scenario B. Just be aware that scenario A can happen as alot of people will be looking to go long now. If it does Ill wait for a conformation till major support is intact.
If you take the breakout put stops above the high/below of the flag/pendant/whatever forms.
I'll try and update as we go along. Let me know what ya'll think. Cardano does move with bitcoin's major swings so just keep a eye on what BTC does too.
This is my first publish so be kind :)
I am not a financial adviser. Trade at you're own risk.
Hope all is well!
So wow what a week for crypto. Seems the bears are still in control and braking every major line with ease. Personally I do not feel comfortable to be in the crypto market for too long so I just play the brakes and then get out. After mid November we've seen a stall in buying power and the bear continuation was confirmed afterwards by braking major resistance and the spiral continued. Most likely because most have been scared off. Luckily we can ride both trains :)
I'm looking for a breakout to the bottom so I'm eyeing scenario B. Just be aware that scenario A can happen as alot of people will be looking to go long now. If it does Ill wait for a conformation till major support is intact.
If you take the breakout put stops above the high/below of the flag/pendant/whatever forms.
I'll try and update as we go along. Let me know what ya'll think. Cardano does move with bitcoin's major swings so just keep a eye on what BTC does too.
This is my first publish so be kind :)
I am not a financial adviser. Trade at you're own risk.
Comment:
I meant to say "breakout". Early morning here in SA sorry :D
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If they close this one hour candle under trade will be active
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Looks tight. Lets rather see what the next hour will hold for us. If they rapidly brake out with momentum, I'm jumping in
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%min chart shows why they bounced. Based on that we can make the next few assumption
%min chart shows why they bounced. Based on that we can make the next few assumption
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Comment:
Still in consolidation but short uptrend broke and it seem there are less buyers. We should know which way it breaks real soon. Or they'll just do this the whole day. :D
Trade active:
Shorting 0.03113 . Breaking the uptrend and losing buyers strength so I'm in early. A 1hr candle close below the bottom resistance would be the confirmation.
Ill be eying to tp at 0.02900.
Ill be eying to tp at 0.02900.
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Comment:
Thought they would be more volatile from the breakout. locking it down to a free-trade.
Comment:
First target hit (height of the consolidation period)
Trade closed: target reached:
First target reached. Took profit as they might have another bounce to re-enter.