Hey traders!
Hope you're enjoying this weekend so far! Wanted to be unbiased and share what could be the real head-ache for both sides.. And most likely happen to crush both sides.
I want you to start thinking outside the box in crypto trading.. That's one of the ways to be very good trader here..
This time I used pitchfork tool for you to see what I mean.. And of course some painting skills for visualization.
Now we reached the EQ (0.5fib) of the recent wave from 7.3k to 10.3. (Peaking at 10.6 at derivatives exchanges)..
We did not close below crucial 200 EMA. We have to keep our eye in coming days and how it closes (We might get another low, possibly 0.618 fib @$8560 before heading higher)
Dotted lines are important swing tops where a lot of stops could be taken out before prices turn around. We already took some at 10350, now it's time to play the same game peaking slightly above 9570.
Our target is 0.236 or anything slightly above it. If you are trading with high leverage, I would recommend to have patience and see if we get that lower low in next couple of days.
Blue zone below is daily supply where I would be looking to take profits $7250-$7000.
Let me know what you think! This is not financial advise. Use it as a tool to learn something about psychology of the markets and who are the losers in this game?
Hope you're enjoying this weekend so far! Wanted to be unbiased and share what could be the real head-ache for both sides.. And most likely happen to crush both sides.
I want you to start thinking outside the box in crypto trading.. That's one of the ways to be very good trader here..
This time I used pitchfork tool for you to see what I mean.. And of course some painting skills for visualization.
Now we reached the EQ (0.5fib) of the recent wave from 7.3k to 10.3. (Peaking at 10.6 at derivatives exchanges)..
We did not close below crucial 200 EMA. We have to keep our eye in coming days and how it closes (We might get another low, possibly 0.618 fib @$8560 before heading higher)
Dotted lines are important swing tops where a lot of stops could be taken out before prices turn around. We already took some at 10350, now it's time to play the same game peaking slightly above 9570.
Our target is 0.236 or anything slightly above it. If you are trading with high leverage, I would recommend to have patience and see if we get that lower low in next couple of days.
Blue zone below is daily supply where I would be looking to take profits $7250-$7000.
Let me know what you think! This is not financial advise. Use it as a tool to learn something about psychology of the markets and who are the losers in this game?
