It has been a while since I have posted on here as I have taken a break from crypto for a year or so. I've recently been watching prices and been playing around with 100:1 margin trading on a new exchange (link below). Anyway, I am not a professional, but this is what I'm trading and planning on. Trade at your own risk.
The blue upper line and the green lower line are in my opinion the main upper resistance and lower support. I will post another zoomed in version to support why I believe we will see the main bounce at the lower green support. Yes, the current upward trend didn't hit the upper resistance on this run, but it is still within the formation/pattern. I expect a bounce from the green line support and then we will have a bull run and break out of the formation. The formation started with an upward move bull run, so I believe at the end of the pattern it will continue that bull run.
I personally am shorting with a plan to go long around the green support. Planning to try to buy around $40-42 range and let it ride. If it breaks below the green support I will start shorting again b/c I imagine we will be seeing much lower unfortunately. If it bounces how I predict, I will have a take profit at the blue resistance line, and then watch to confirm it breaks out of it before reentering, or at a minimum I'll continually raise my stop loss to have a safety net of locking in profits.
If you like this idea or agree, I'd appreciate any likes or comments. If you disagree, feel free to post as well.
Thanks for checking it out.
The blue upper line and the green lower line are in my opinion the main upper resistance and lower support. I will post another zoomed in version to support why I believe we will see the main bounce at the lower green support. Yes, the current upward trend didn't hit the upper resistance on this run, but it is still within the formation/pattern. I expect a bounce from the green line support and then we will have a bull run and break out of the formation. The formation started with an upward move bull run, so I believe at the end of the pattern it will continue that bull run.
I personally am shorting with a plan to go long around the green support. Planning to try to buy around $40-42 range and let it ride. If it breaks below the green support I will start shorting again b/c I imagine we will be seeing much lower unfortunately. If it bounces how I predict, I will have a take profit at the blue resistance line, and then watch to confirm it breaks out of it before reentering, or at a minimum I'll continually raise my stop loss to have a safety net of locking in profits.
If you like this idea or agree, I'd appreciate any likes or comments. If you disagree, feel free to post as well.
Thanks for checking it out.
