We were looking for a the bearish sentiment to play out, and gather bullish support from the 24K ranges.
Due the current socio economic movement, large celebrities like Elon Musk support crypto currency and largely de-centralized finance, the bulls had enough strength here to break the down trend and push it up. This is really good news for crypto currency as a whole.
Originally in a short, had a stop loss at 35K and moved it down to 33K as price moved down initially. Stopped out now. If you were in a short and didn't have a stop-loss set around , you can potentially wait for the retest of the channel to exit the position. This is usually the case when a down channel break up, it retests support before a larger move up. However, based on the new wave on bulls and market conditions, it may be smart to wait and watch the market volatility create a new structure.
Safe Trading, Cheers :)
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There it is, if you wanted to cut-losses on the retest. Cheers.
What are the chances this elon run, disappears as fast as is appeared?
SmartCryptoAssociation
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@andrejcepak, I think the movement is picking up a lot of momentum from traditional markets and social media. As someone that has been in the crypto markets for many years now, this is is really good news! I would speculate to trade with the trend, and to see if this is just a short squeeze or a trend reversal, I think we need to be patient and keep and eye and price action and volume.