Long
Short term down trend but still long
I am still long on this one but it will take longer unless a big pump will happen.
As of this writing, 3.6 to 3.8 still acts as support. Selling volume goes lower and lower without driving the price down at a fast rate.
If 3.6 breaks down, you can check 3 to 3.2 level then 2.6 to 2.8
If the new down trend line breaks, expect a recovery back to 4 to 4.6 immediate resistance.
Cut loss or take profit as necessary.
As of this writing, 3.6 to 3.8 still acts as support. Selling volume goes lower and lower without driving the price down at a fast rate.
If 3.6 breaks down, you can check 3 to 3.2 level then 2.6 to 2.8
If the new down trend line breaks, expect a recovery back to 4 to 4.6 immediate resistance.
Cut loss or take profit as necessary.
Note
Broke out of the current triangle. Testing to break once more 4.2 level. If the candles close above 4.2 to 4.6. Next resistance is 5 to 5.6 before going for the all-time high resistance.Note
False breakout. Let's see if it goes down all the way to 3 to 3.2 or 2.6 to 2.8 before reversal.
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.