Hi traders
I want to share this idea because it looks interesting to have it in mind ... just in case.
I honestly dont think this can happen... but we all know that anything is possible in crypto market.
We see a big bear flag formation almost completed, which if it is not a bear trap, could lead the price to 18k - 13k (green fib projection).
18k is the 0.886 retracement (blue fib) of the impulse since october 27 2020, when this bull cycle began.
Also, if we plot volume profile since oct 27, we see that 18k was the most traded zone since this bull run started.
Are we being scammed by manipulators ? Or is this the end of the bull cycle?
ATM we are sitting in the second strongest zone of traded volumen on this bull run ... so yes, this could be a trap.
Or is crypto market going to radically shift after Ripple's lawsuit ends?
To finish, How can we successfuly trade this? Simple, waiting from the outside until market structure change to a clear bullish trend again.
I do not recommend to take any position right now since we are in this uncomfortable situation.
Let me know what do you think about this. And give me a thumb up if you find this is good content.
Peace and Joy!
Crypto SolArb
I want to share this idea because it looks interesting to have it in mind ... just in case.
I honestly dont think this can happen... but we all know that anything is possible in crypto market.
We see a big bear flag formation almost completed, which if it is not a bear trap, could lead the price to 18k - 13k (green fib projection).
18k is the 0.886 retracement (blue fib) of the impulse since october 27 2020, when this bull cycle began.
Also, if we plot volume profile since oct 27, we see that 18k was the most traded zone since this bull run started.
Are we being scammed by manipulators ? Or is this the end of the bull cycle?
ATM we are sitting in the second strongest zone of traded volumen on this bull run ... so yes, this could be a trap.
Or is crypto market going to radically shift after Ripple's lawsuit ends?
To finish, How can we successfuly trade this? Simple, waiting from the outside until market structure change to a clear bullish trend again.
I do not recommend to take any position right now since we are in this uncomfortable situation.
Let me know what do you think about this. And give me a thumb up if you find this is good content.
Peace and Joy!
Crypto SolArb
We still think this can make a turn to the upside.
Peace and Joy!