It's tempting situation to set pending order @ 5800. Even if the wave down will be longer and if it will attack succesfully that level, there is suport area around between 4000-5000 from which levels always retest of 6000 should occur and this entry can be closed without loss. However conservative players must look @ price action and indicators (1h, 2h and 4h) to see if area 5800-6000 will respond with some bull power, and decide after that - to take or not to take long position here.
If i will take this long i will not sell it if i see even bump to 10000 or 20000 (my target is "new bubble" in much or less distant future). This should be longterm long, and should be closed if support from 5800-6000 will be broken.
This is not a trading advice!
If i will take this long i will not sell it if i see even bump to 10000 or 20000 (my target is "new bubble" in much or less distant future). This should be longterm long, and should be closed if support from 5800-6000 will be broken.
This is not a trading advice!
Comment:
Maybe it will produce some bump from 5800 maybe limited. I must admit that seeking here bottom of all bottoms after bubble burst is not convenient idea at all. Signs outside of technical analysis (which is not 100% reliable - like all systems) say to stay aside from this market until the crash of US and/or Chinas stock markets. There are some dark forces around cryptomarket now, they will loose in longterm, but short/midterm they will be victorious.
Comment:
if someone has longs from 6000 maybe it is good time to close it partially, and reopen after signal of succesful attack on 7000-7100 area:
