Short post today , sorry for that.
The reversal and dip-buying/bullish break is clear for me now.
I see 10,000 happening very soon based on fib extension and pattern symmetry
- Even if fib, and pattern speaks of this possibility, the tables can easily turn, therefore the logical should be to place a intelligent stop loss.
However the whales are some really annoying people, they could easily break this down only to bring it back up again just like when they liquidated on finex.
As far as this goes for a trade, the R:R might not be sufficient depending on your risk tolerance.
My personal stop loss would be 7200.
Remember that all indicators are saying bearish, my assessment here is only based on 2 indicators which is price action momentum and traditional charting.
As far as validity goes i would like to see a re-test of the ascending support once more, and buy the break from there. Then raise the stop when we break above the 8,3k resistance.
"Hello buy me when I'm inside" - Each time we pivoted inside the price has been pushed outside again.
It' looks like a miniature triangle is forming inside there, juding by this we could easily make a break the next 1-3 candles on the 6h chart.
Now break out ! ;)