After breaking down a new weak uptrend the price dropped and also broke MA200 on the 4H chart. Those and other signs are pointing to the strong bearish scenario. The question is - how deep will we fall?
The next stop most likely will be 37000, with a small chance to bounce back to 39000-40000. Thus I'm bearish now.
P.S. But be careful, when on the market too many bears or bulls for a long time, there could be happen bear/bull traps.
The next stop most likely will be 37000, with a small chance to bounce back to 39000-40000. Thus I'm bearish now.
P.S. But be careful, when on the market too many bears or bulls for a long time, there could be happen bear/bull traps.
Trade closed: target reached
My bearish scenario played out even better than I expected - the price dropped to 34300 versus 37000 I supposed
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.