The EMA 200 upward trend is broken. We got a HS-formation. I expect the sellers to come in, if prices moves lower the 33$ level. Lets wait and see what happens.
Sell stop at 33$
Profit target at 29,20$
After a huge selling, we reached the standard retracement-level. I expect now a long trend to the highest high. We get the best risk/reward ration if we close our trade on half way in case of a correction of the short trend.
A good entry is given, if we wait until a long candle arrives and further long signals are created, e.g. by MACD or RSI, which signals our...
Look at this amazing up channel over weeks, which is now broken. If you had ask "Mr. Volumne" (OBV) ist the last days, you would have recognized this down movement. It was just a matter of time.
Now I would go short in trend with a trainling stopp on the 1h chart.
Strong upward trend is broken, but support from one of the lows is strong. So I expect a little upward correction and would just trade it long till 70$. If there will more long signals, e.g. via MACD or RSI, you could bet further on the long trend.