A short entry here is slightly premature but one to watch as we've rolled back under the 200 day moving average and having rejected the 100 day.
This descending channel has been in play since June so a target near $6.7k is plausible though perhaps ambitious. The 50 day moving average at $8.6k seems likely to be tested by this weekend (if not sooner) however.
Pricing rolling under $8.7k if followed by more volume on the sell side would be the things to watch for.
This descending channel has been in play since June so a target near $6.7k is plausible though perhaps ambitious. The 50 day moving average at $8.6k seems likely to be tested by this weekend (if not sooner) however.
Pricing rolling under $8.7k if followed by more volume on the sell side would be the things to watch for.
Comment:
Probably a good idea to either put in a trailing stop here or take some of the trade off and lock in some profit.
Trade closed: target reached:
That'll do pig. That'll do.