BINANCE:INJUSDT has seen an explosive move upwards. Accelerated downtrend line (orange line) was broken and leaves still around 15% of upside until the next big resistance is reached.
Normally, we would expect price to retrace after reaching 3,05-3,75 USDT area as the main down trend is still active.
Longs make sense only once the down trend line is broken and retested.
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INJ not bothered about resistance.. so far. Now facing trendline. It would be key for it to break it strongly.
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Level & Trend line acting as expected. Price could not break through. Falling deeply below 3 USDT would trigger the short idea seeking for a reversal to 1,12-1,41 USDT level. Bulls should wait for the trendline to be broken prior to opening further long positions.
Thanks for sharing.Can you give us the entry point?
sergidown
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@behdark I will wait for 3 USDT to be lost significantly and entry with a limit order on the retest of the level. For a more aggressive entry, you can always zoom in on a 1H chart and look for a reversal pattern
baba0071
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it will go up now to 4 and above
baba0071
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as said by me from internal source... see the rate hike by fed to 25 bps.. same it will be down hard to 2 and below after few hours after having some pump... dont worry guys..
baba0071
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but i think it will be up for some more time then will down to 3.2 furst