It looks like the price is going to break the local support zone and move downward to the 1st bottom at 6000.00 level. If you search for buy opportunities, this movement will be good for you. There will be a possibility to buy at the support zone formed by the middle line of the price channel and 6000.000 using reversal signals. Such trades will be as good for investing for the long run as for the medium term with the profit targets at the nearest resistance levels.
There are no 100% true signals in markets, but this breakout wants to show us that sellers do the best for reaching 6000.00 support. If you are in the market with long positions, you should rely only on a fake breakout or the quick buyback. Will it be during this week or not, we will see. Anyway, a bearish market is a very good market for buyers. It provides new buy opportunities at very good prices. We just need to wait for the right signals and follow them!
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Reversal candlestick pattern? It can be like this. But for confirmation we need to get the close price. Probably it will give us the 1st bullish signal
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I would like to say that the market gave us a reversal candlestick pattern, but I'm not sure about it right now. If the close price could be higher, we would have the hammer pattern which belongs to reversal group. But this is not the good example of such a pattern and that's why I would like to get additional signals from the market.
If the price drops below the low price of the signal candle, it will confirm the further downward movement. In such case the hammer won't work.
If the price moves above the high price of the signal candle, in this case I will be ready to talk about this candle as the hammer pattern. It will give us the bullish signal.
Lets agree on something...you you, yes you... you have no idea where to buy this irrational market havent 0 mercy on the technicals so stop pretending that you do, i dont know one person that called for 6700$ today, so stop acting like u know shit, considering we are having sentiment bearish again this could just as well be the bottom of the cycle
DLavrov
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@Gringo1nlx, do you talk about me in this comment?
alimannn
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Hi.
I had predicted the sinking well before.
The following diagrams show what I said.