In spite of a new trend reversal signal based on a divergence, I don't think we will see a correction from 18 500$. If the buyers didn't want to exit from long positions at strong resistance, 18 500$ doesn't look like a reason as well. I guess that ATH is an obvious target for many buyers.
How to trade?
The price closed my short trades by stop. But I still think that now it is not a good time for buying. For me, it is obvious to search for new setups. I will wait for a reversal signal from ATH or a false breakout above 20 000$. I will try to catch a possible correction movement with targets at 18 000$, 16 000$, 14 000$ and, after that, use reversals for opening new long positions. It is clear now that the will be continued and we will get a new ATH . But I want to have long positions after the correction.
If you like short-term trading, probably for you, the market will give a few setups in the 5-15m timeframes from 18 000$ - 18 500$ and with the target at 20 000$. But you must be very careful! You will buy at the top, and you shouldn't be surprised if the price reverses and you will see a correction movement.
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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