The crypto is the perfect market for manipulation. It does not matter why the price bounced from 10500USD and dropped to 9200USD. Let's think about how to trade.
The price bounced from the broken downtrend line. We have a new swing low, which should be used as the key point for the sellers. If they can break it, we will see a further downside movement to 8600USD and 8000USD.
If the buyers are active and the price can stay above 9200USD, we should be ready to see an upside movement to 10000USD as the 1st target. The breakout above this resistance will open the road to 10500USD.
The price reversal from 9200USD can be used for buying with stops below the local swing low. I think the risk per trade can be up to 5% from the capital. But how to trade exactly, it will depend on the exact trading style, goals, and opportunities.
P.S. as I don't use like-bots and other solutions that show great "interest" to my posts, I will be grateful if you support my work by your LIKEs and comment. Of course, if you can do it. The feedback from REAL people is priceless!
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
The price bounced from the broken downtrend line. We have a new swing low, which should be used as the key point for the sellers. If they can break it, we will see a further downside movement to 8600USD and 8000USD.
If the buyers are active and the price can stay above 9200USD, we should be ready to see an upside movement to 10000USD as the 1st target. The breakout above this resistance will open the road to 10500USD.
The price reversal from 9200USD can be used for buying with stops below the local swing low. I think the risk per trade can be up to 5% from the capital. But how to trade exactly, it will depend on the exact trading style, goals, and opportunities.
P.S. as I don't use like-bots and other solutions that show great "interest" to my posts, I will be grateful if you support my work by your LIKEs and comment. Of course, if you can do it. The feedback from REAL people is priceless!
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
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💎 Share My BEST Trades here 👉 bit.ly/wubits