Hello guys,
I saw a falling wedge in the 4H and 1H chart.
10.100$ is important Fibonacci support points for us, if this point is broken then we can see 9.800$
RSI and Stoch RSI seem bearish as well. That's why in my opinion we can see 10.100$ or 9.800$ again. However, I am bullish in the long term. Also, the volume is getting lower day by day, which can be a good sign of bearish movement. Another sign of the bearish movement is Ichimoku Clouds, price is below of the clouds right now in 1H chart, however, price is above of the Ichimoku Clouds in 4h chart but there lack signals for calling long at the moment.
In order to call a long signal using Ichimoku requires:
What I will do is, I have created some long orders partially which is starting from 10.100$ to the 9.800$ since I think bulls will find really huge support from there then break the falling wedge and also break the ascending triangle which is coming from 13.927$. I think our new target after this movement will be 10.900 which is a 0.618 Fibonacci resistance right now.
But first, we need to close a candle above of 10.455$ resistance which bulls could not do it yesterday.
Best regards,
I saw a falling wedge in the 4H and 1H chart.
10.100$ is important Fibonacci support points for us, if this point is broken then we can see 9.800$
RSI and Stoch RSI seem bearish as well. That's why in my opinion we can see 10.100$ or 9.800$ again. However, I am bullish in the long term. Also, the volume is getting lower day by day, which can be a good sign of bearish movement. Another sign of the bearish movement is Ichimoku Clouds, price is below of the clouds right now in 1H chart, however, price is above of the Ichimoku Clouds in 4h chart but there lack signals for calling long at the moment.
In order to call a long signal using Ichimoku requires:
- Price should be above of the clouds
- Price should be above of the TenKan-Sen
- Clouds should turn green from red
What I will do is, I have created some long orders partially which is starting from 10.100$ to the 9.800$ since I think bulls will find really huge support from there then break the falling wedge and also break the ascending triangle which is coming from 13.927$. I think our new target after this movement will be 10.900 which is a 0.618 Fibonacci resistance right now.
But first, we need to close a candle above of 10.455$ resistance which bulls could not do it yesterday.
Best regards,
Trade active:
We reached our first target now, I am expecting a huge come back from bulls, let's see!
Trade closed: target reached:
First, we reached the first target point which is between 10.000 and 9.800 and then as expected, we broke the falling wedge.