The reasons why I think we can see another dumb at the short term are:
- The 200MA line is a strong support for the past 7 days, that gives me a reason that it can break soon, because its tested so many times.
- Also the "BTC SHORT" chart is at a very low point. Most likely this means that we dump another time, this happend 2 times before already.
- The last reason for the dumb is that there is a bearflag forming after the dumb of 7 days ago.
My target is at the 200MA at the 1Day time frame, with a stop-loss at the 50MA (On the 4H) that gives a nice risk reward ratio of 3,5 to 1.
Hope you can learn something from my analysis or maybe you can find yourself in this one.
Leave a like if you want more of these! :D
- The 200MA line is a strong support for the past 7 days, that gives me a reason that it can break soon, because its tested so many times.
- Also the "BTC SHORT" chart is at a very low point. Most likely this means that we dump another time, this happend 2 times before already.
- The last reason for the dumb is that there is a bearflag forming after the dumb of 7 days ago.
My target is at the 200MA at the 1Day time frame, with a stop-loss at the 50MA (On the 4H) that gives a nice risk reward ratio of 3,5 to 1.
Hope you can learn something from my analysis or maybe you can find yourself in this one.
Leave a like if you want more of these! :D
Comment:
We've met the target perfectly, i'm very happy that this analysis went as I predicted!!