BCDBTC is currently retesting the prior low from January 2020, which is now providing support
The last time it did this, it rocked up like crazy.
Can it do it again ?
This chart is showing a long period, but if you zoom in on your own chart you will see it is bouncing off the support line today.
A minor drop below the support line is ok and it might even stay there for a day or two. That is to be expected when zooming out to this macro view
The chart pattern is different on BCDBTC and BTCUSD / BTCUSDT so you should review both of them.
Should you buy now or wait and sit back and monitor and see how this plays out ?
That is up to you to decide depending on your trading profile, risk pattern or a flip of a coin
You decide.
Good luck
The last time it did this, it rocked up like crazy.
Can it do it again ?
This chart is showing a long period, but if you zoom in on your own chart you will see it is bouncing off the support line today.
A minor drop below the support line is ok and it might even stay there for a day or two. That is to be expected when zooming out to this macro view
The chart pattern is different on BCDBTC and BTCUSD / BTCUSDT so you should review both of them.
Should you buy now or wait and sit back and monitor and see how this plays out ?
That is up to you to decide depending on your trading profile, risk pattern or a flip of a coin
You decide.
Good luck
Trade closed: stop reached