Price contracting on the 4hr. Buy volume decreasing however denoting further downside to come.
Last 4hr also bearish engulfing. Hoping for a bounce though to 4-hr resistance to open a new short.
I was in a short last night, took profits early on an order at 57k today.
Finally won one again. Happy with the modest gains.
4hr 21 ema currently at 56.6 could be the next possible bounce point.
I've also highlighted two daily candle close areas. It is likely they may get retested for support before further upside.
Last 4hr also bearish engulfing. Hoping for a bounce though to 4-hr resistance to open a new short.
I was in a short last night, took profits early on an order at 57k today.
Finally won one again. Happy with the modest gains.
4hr 21 ema currently at 56.6 could be the next possible bounce point.
I've also highlighted two daily candle close areas. It is likely they may get retested for support before further upside.
Comment:
I think it's quite possible we get an end-of-day rally above the red line and create another green daily candle, before falling back down to the lower targets and bouncing higher from there. I try to think about the bigger candles and what they should look like once completed, given the trend and whether or not we have hit the most important targets on the macro time frames.
Trade active:
Short opened at $58,066.
Taking profits at 56k w a stop loss at $58,312.
Possible will go for 55.315. Hourly fell pretty hard after open short target hit.
Taking profits at 56k w a stop loss at $58,312.
Possible will go for 55.315. Hourly fell pretty hard after open short target hit.