The explanation for a short-term trade:
We can see 2 clear action prize zones (white) based on pure price action analysis we have 2 possible outcomes:
Buy (green path): the safer way to trade that price action zone is to wait for a pullback to the zone and the buy long when the price goes above the previous daily green (bull) candle close.
Targets: first TP point will be the restructure breaking point (yellow line) second TP will be the l-hight point and the last TP will be the previous H-hight point.
Be careful and know that you are trading against the tendency so adjust your risk-reward ratio accordingly
IN MY OPINION, THIS IS THE LESS LIKELY SCENARIO DUE TO THE OVERALL CURREN CRYPTO MARKET TENDENCY AND FUNDAMENTALS.
Sell (red path): The plan for this trade is to wait for the price to break down the l-low point (under the price action zone) and go short after the breakdown or wait for a test to the price action zone and then go short. This can open an opportunity for a long-term trade aiming for the 1,25 - 0,87 area.
The risk-reward ratio in this scenario can be greater.
IN MY OPINION, THIS IS THE MOST LIKELY SCENARIO CONSIDERING THE CURRENT BEARISH TENDENCY AND THE OVERALL CRYPTO MARKET
We can see 2 clear action prize zones (white) based on pure price action analysis we have 2 possible outcomes:
Buy (green path): the safer way to trade that price action zone is to wait for a pullback to the zone and the buy long when the price goes above the previous daily green (bull) candle close.
Targets: first TP point will be the restructure breaking point (yellow line) second TP will be the l-hight point and the last TP will be the previous H-hight point.
Be careful and know that you are trading against the tendency so adjust your risk-reward ratio accordingly
IN MY OPINION, THIS IS THE LESS LIKELY SCENARIO DUE TO THE OVERALL CURREN CRYPTO MARKET TENDENCY AND FUNDAMENTALS.
Sell (red path): The plan for this trade is to wait for the price to break down the l-low point (under the price action zone) and go short after the breakdown or wait for a test to the price action zone and then go short. This can open an opportunity for a long-term trade aiming for the 1,25 - 0,87 area.
The risk-reward ratio in this scenario can be greater.
IN MY OPINION, THIS IS THE MOST LIKELY SCENARIO CONSIDERING THE CURRENT BEARISH TENDENCY AND THE OVERALL CRYPTO MARKET