Happy Friday Team,
Quite a bit of resistance formed with that dump. Letting PA settle and develop a bit more, for now, watching daily close as well. We are seeing some strength on this buyback, which is not a bad sign. Overall, the following daily block with EQ at $5975 is the level that MUST hold. If it doesn't, my next target would be $5,350 logically, and then lower.
Let’s see what type of daily close we get along with price action on key levels.
The last four-hour candle was very bullish and we can even say that this is a bullish candlestick pattern called "Engulfing". The Engulfing consists of two candles and the last bullish candle 'eat' previous low candle completely, those candlestick patterns are usually very good when they are on the strong support or resistance area, currently, it is a confirmed support area and let's see how it plays out.
My recommendation is to stay away from the market because this is definitely a risk to invest somewhere because of the down pressure is so high and even if it is a bear trap than almost nobody can forecast it.
Let the things settle down, be cautious and look at this action from the side!
Everybody, I guess We have to Go to that place
To get to this one
Now some of you
Might still be in that place
If you're tryin' to get out
Just follow me
I'll get you there
Don't lose money, Be a Legend Trader.
Please, don't forget to LIKE!
Thank You for your support!
Have a nice day!
Quite a bit of resistance formed with that dump. Letting PA settle and develop a bit more, for now, watching daily close as well. We are seeing some strength on this buyback, which is not a bad sign. Overall, the following daily block with EQ at $5975 is the level that MUST hold. If it doesn't, my next target would be $5,350 logically, and then lower.
Let’s see what type of daily close we get along with price action on key levels.
The last four-hour candle was very bullish and we can even say that this is a bullish candlestick pattern called "Engulfing". The Engulfing consists of two candles and the last bullish candle 'eat' previous low candle completely, those candlestick patterns are usually very good when they are on the strong support or resistance area, currently, it is a confirmed support area and let's see how it plays out.
My recommendation is to stay away from the market because this is definitely a risk to invest somewhere because of the down pressure is so high and even if it is a bear trap than almost nobody can forecast it.
Let the things settle down, be cautious and look at this action from the side!
Everybody, I guess We have to Go to that place
To get to this one
Now some of you
Might still be in that place
If you're tryin' to get out
Just follow me
I'll get you there
Don't lose money, Be a Legend Trader.
Please, don't forget to LIKE!
Thank You for your support!
Have a nice day!