No need for a complicated analysis here. Sometimes a line chart is better to see it clearly. A textbook H&S decline that ideally should be followed by a 30-35% relief rally. I expect it to happen rather quickly, the more it drags, the less powerful this idea becomes. Cheers.
I will hold this short until 0.045 IF the move is sudden OR goes steadily in a channel IN THE LOWER TIMEFRAME (1 AND 4 HOURS). If it looks more like a EVE and EVE/ADAM pattern, I will close it around TP2. Then I will look for some opportunistic longs for potential Elon / Twitter news flow.
This trade is based on the overall direction of the crypto market. I searched for a high quality short as the short ambassador of the next downwards impulse I am expecting. BAND being a low-cap (no idea if it is a shitcoin or not) and highly volatile and highly responsive to market movements (high downwards Beta), I chose it. Seems like it is likely to make new...
The chart shows some strength, it seems it would be a decent long for the next 2-3 days if the macro does not drop. SL at 0.835. Batch 1 is GO.