Price close to our first target area. Again we are back to consider what the market can do, and come up with candidate moves for our best next trade. Possible scenarios indicated with arrows. If we see a break of the rising resistance line then we will re analyze.
Information, charts or examples contained in this analysis are for illustration and educational purposes only. It should not be considered as advice or a recommendation to buy or sell any security or financial instrument. We do not and cannot offer investment advice.
Information, charts or examples contained in this analysis are for illustration and educational purposes only. It should not be considered as advice or a recommendation to buy or sell any security or financial instrument. We do not and cannot offer investment advice.
Commento:
Go BTC
Commento:
Why is important to take profits when targets are reached, or at least manage position? Most of the time, when your targets are reached the price will make a correction, as collective consciousness of an army of traders have orders executing in that same area. You can see it clearly on the chart provided.
Commento:
We are not seeing lower lows yet, to confirm a downtrend. Massive profit taking. This can open the door for newbies to start buying and think BTC is a bargain at this lower price.
Commento:
There we go, seeing lower peaks and valleys. Was this a selloff, profit taking or just a simple correction? time and the candlesticks will tell.