Price goes the path of least resistance, so im shorting on the basis that the capitulation signals a local top and this rolls over for accumulation around 2-3$ until next bull cycle
40d/20d candles both flipping red here and with my last post i showed you guys why i believe this retraces below that buyer capitulation and sells off, pretty common pattern going on for alot of altcoins and i dont think this one is any different. Shorting at 6.96 with a stop above the wick on this candle, it may still go higher yet so excersize caution if you're using leverage be sure to use low leverage and small sizing.
comp/usdt has the same fractal as i said on my last post so using that we can expect a 30-40% move over the next month or two
take profits and stop loss on the chart!
I think sometime in the first few days of September we see this begin to sell off, probably wont drop until next month though.
40d/20d candles both flipping red here and with my last post i showed you guys why i believe this retraces below that buyer capitulation and sells off, pretty common pattern going on for alot of altcoins and i dont think this one is any different. Shorting at 6.96 with a stop above the wick on this candle, it may still go higher yet so excersize caution if you're using leverage be sure to use low leverage and small sizing.
comp/usdt has the same fractal as i said on my last post so using that we can expect a 30-40% move over the next month or two
take profits and stop loss on the chart!
I think sometime in the first few days of September we see this begin to sell off, probably wont drop until next month though.
Trade active:
considering moving my s/l to a 4h close above 7.367
seems to be alot of indecision but this is green on the new month and above 7.4 its highly probable that we see at least a wick above the buyer capitulation (8.9-9.5) to take liquidity on new month which is where i would decide to flip long or try to short to new lows potentially
seems to be alot of indecision but this is green on the new month and above 7.4 its highly probable that we see at least a wick above the buyer capitulation (8.9-9.5) to take liquidity on new month which is where i would decide to flip long or try to short to new lows potentially