The selloff seems to be unstoppable in the crypto-currencies.
Since the market did not do what I predicted yesterday, the situation changes a little bit, but the Trend bias remains the same.
The price reached the Support @5100 and looks like that it is starting to have some Buyers pressure.
I dropped to a lower time-frame (4H) to get a better perspective of what happened on the market the last few days and a similar setup like yesterday could be forming.
If price reaches the Yellow Area then watch for a bearish signal to go short for a retest of the previous lows @5100 (target 1) and an extension targeted on the next Minor Structure @4200 (Target 2)
Take care & Happy Pip-Hunting
Since the market did not do what I predicted yesterday, the situation changes a little bit, but the Trend bias remains the same.
The price reached the Support @5100 and looks like that it is starting to have some Buyers pressure.
I dropped to a lower time-frame (4H) to get a better perspective of what happened on the market the last few days and a similar setup like yesterday could be forming.
If price reaches the Yellow Area then watch for a bearish signal to go short for a retest of the previous lows @5100 (target 1) and an extension targeted on the next Minor Structure @4200 (Target 2)
Take care & Happy Pip-Hunting
Comment:
Price reached the predefined area, and now I am waiting for a candlestick signal to get in in the 1H and 4H chart
Trade active:
Inverted Hammer spotted on the 1H Chart:
Entry: 6883.12
Stop-Loss: 7466.99
Targets remain the same
Entry: 6883.12
Stop-Loss: 7466.99
Targets remain the same
Comment:
Inverted Hammer also confirmed on the 4H Chart
Trade closed: stop reached
