Hi that is my first publication, this is just theoretical scenario what can happend, as everything depends on BTC as it mostly controls the marker, but every coin has it's own pattern.
We are in bearish trend, (on 4 hours charts we haven't close above DEMA50 and we lost support at DEMA200 and after that they have crossed what's not a good sign.) but not everything is lost, we should retrace to around 140-150 USD to make it back to bullish, which will take us to around 180-190 USD, to retest support at 140-150 USD (to be confirmed). and to make a double bottom which will help to gain us a power to retrace to 0.786 fib (around 300 USD) so if you short i wouldn't recommend to hold for long(but that's not trading recommendation), as we will retrace to 0.618 fib (240-260 USD) to take us even higher than we have ever been to around 400-420 USD. but that won't last long (nothing does) so we will retrace to 280-320 USD to get higher - 550-580 USD. afterwards we will make double bottom at 280-320 to make it as our support, from where we will FLY like eagle to 1400+ USD !!
The whole process to get to that price should take approximately 6 months from now !!
Thank you for reading, feel free to leave your feedback .
This information is not a recommendation to buy or sell. It is to be used for educational purposes only.
We are in bearish trend, (on 4 hours charts we haven't close above DEMA50 and we lost support at DEMA200 and after that they have crossed what's not a good sign.) but not everything is lost, we should retrace to around 140-150 USD to make it back to bullish, which will take us to around 180-190 USD, to retest support at 140-150 USD (to be confirmed). and to make a double bottom which will help to gain us a power to retrace to 0.786 fib (around 300 USD) so if you short i wouldn't recommend to hold for long(but that's not trading recommendation), as we will retrace to 0.618 fib (240-260 USD) to take us even higher than we have ever been to around 400-420 USD. but that won't last long (nothing does) so we will retrace to 280-320 USD to get higher - 550-580 USD. afterwards we will make double bottom at 280-320 to make it as our support, from where we will FLY like eagle to 1400+ USD !!
The whole process to get to that price should take approximately 6 months from now !!
Thank you for reading, feel free to leave your feedback .
This information is not a recommendation to buy or sell. It is to be used for educational purposes only.