Hey guys, after today's breakout there are currently the following trading options
1. If you are already long - hold until 173 $ and sell partially. If the price should break the triangle upwards I expect further up movement up to $ 195, there should be sold the rest because there is first clear stronger resistance.
2. If you have no open position - a long entry is currently very risky and I would not short crypto currencies currently at all. A first good short entry with good risk/reward ratio is at $173 if there is confirmed strong resistance. A confirmed resistance would be if two day candles would close below the trend line. A good long entry is above the trend line if daily candle break out and close above.
1. If you are already long - hold until 173 $ and sell partially. If the price should break the triangle upwards I expect further up movement up to $ 195, there should be sold the rest because there is first clear stronger resistance.
2. If you have no open position - a long entry is currently very risky and I would not short crypto currencies currently at all. A first good short entry with good risk/reward ratio is at $173 if there is confirmed strong resistance. A confirmed resistance would be if two day candles would close below the trend line. A good long entry is above the trend line if daily candle break out and close above.
Trade active
market testing currently resistance line - expect fast up movement if daily candle close above resistance trend line
The analyses provided are for informational purposes only and do not constitute financial advice or recommendations to buy or sell anything. The information presented is based on personal research and interpretation.
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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.
The analyses provided are for informational purposes only and do not constitute financial advice or recommendations to buy or sell anything. The information presented is based on personal research and interpretation.
Related publications
Disclaimer
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.