Back again with some support and resistance lines, but this time with a swing towards bearish sentiment.
We have a few directions that the market could take us right now, that being a bounce at our current level of 10.3-10k to retest the 11k zone we failed to break over the weekend, a drop to 9.4k at the weekly S1 level support, or we blow through all supports to the previous low of 9.1k-9K.
Personally, if we are going to make a new ATH like everyone thinks, then a definitive reversal on a high timeframe like the Daily we are looking at is necessary to give this market the confidence it needs. I hope to see a double bottom at 9K before we reverse and blow through our previous daily high of 13.9K
I'll update as things change.
Thanks,
We have a few directions that the market could take us right now, that being a bounce at our current level of 10.3-10k to retest the 11k zone we failed to break over the weekend, a drop to 9.4k at the weekly S1 level support, or we blow through all supports to the previous low of 9.1k-9K.
Personally, if we are going to make a new ATH like everyone thinks, then a definitive reversal on a high timeframe like the Daily we are looking at is necessary to give this market the confidence it needs. I hope to see a double bottom at 9K before we reverse and blow through our previous daily high of 13.9K
I'll update as things change.
Thanks,
Comment:
Trade is going as predicted so far. Next stop 9.4k then 9k.
I personally plan to take 50% TP @ 9.1k off my short.
Trade is going as predicted so far. Next stop 9.4k then 9k.
I personally plan to take 50% TP @ 9.1k off my short.
Comment:
so close to our take profit zones. I'll probably close 75% inside of here if we reach it too quickly. Hold 25% to hold out for the 8k wet dream
so close to our take profit zones. I'll probably close 75% inside of here if we reach it too quickly. Hold 25% to hold out for the 8k wet dream
Will update again if we touch that 9.4k level I mentioned. Very possible bounce at that level.