here you got an overview of what paths the market should take
both scenarios have high probabilities based on T.A thats why I do not pick one way in particular of an other for the moment (until price give me a confirmation)
Plan A: price will continue his downtrend because of high bearish momentum, all the buyers are scared and could be deceived since their accumulation zone could break. entry point will be when a daily candle will break below the critical lvl and the target will be at 20k
Plan B: if buyers succeed to defend these level of 38k and even accomplish to push the price above the psychological level (and closing a candle above) then a buying opportunity will be possible from there and aiming for the 58k level
For the moment price is in a ranging zone since both support and resistance are major. I repeat that its better to wait for price to break one or an other of these zones before entering with a tight SL according to the trend. since the market is stuck in this zone, it is adviced for beginners to let the market decide which direction it'll take before taking action.
as mentionned in chart, targets are just indicative. price can break through one of this and push further.
this is not an indvestment advice. i've seen a lot of beginners coming into the market these last days taking inconsiderated risk, i'll be very happy if this chart helped you!
both scenarios have high probabilities based on T.A thats why I do not pick one way in particular of an other for the moment (until price give me a confirmation)
Plan A: price will continue his downtrend because of high bearish momentum, all the buyers are scared and could be deceived since their accumulation zone could break. entry point will be when a daily candle will break below the critical lvl and the target will be at 20k
Plan B: if buyers succeed to defend these level of 38k and even accomplish to push the price above the psychological level (and closing a candle above) then a buying opportunity will be possible from there and aiming for the 58k level
For the moment price is in a ranging zone since both support and resistance are major. I repeat that its better to wait for price to break one or an other of these zones before entering with a tight SL according to the trend. since the market is stuck in this zone, it is adviced for beginners to let the market decide which direction it'll take before taking action.
as mentionned in chart, targets are just indicative. price can break through one of this and push further.
this is not an indvestment advice. i've seen a lot of beginners coming into the market these last days taking inconsiderated risk, i'll be very happy if this chart helped you!