The crypto pair peaked and began correction at the anticipated value area ($52-$53).
At this moment, it’s gaining momentum for another round of Northward movement.
Despite its slippage off the marked value area(49,500 USD), the pair still got the attention of intermediate trend riders.
A two bullish candlestick set up is gradually giving hope that the crypto buyers forces would outweigh sellers forces.
If the crypto pair buyers can successfully reclaim the $50k value area and trade above the 51,500 USD price point, the coin will obviously maintain a bullish momentum till $54k - $55k and create another swing point.
It’s important to note that the third swing point in a channel is not reliable. If you must short the coin for another round of profitable trade, you must consider some other trading apparatus.
Overall sentiment: Bullish
Decision rule: Buying the pair now is more preferable to taking a “long position at a high price point”.
At this moment, it’s gaining momentum for another round of Northward movement.
Despite its slippage off the marked value area(49,500 USD), the pair still got the attention of intermediate trend riders.
A two bullish candlestick set up is gradually giving hope that the crypto buyers forces would outweigh sellers forces.
If the crypto pair buyers can successfully reclaim the $50k value area and trade above the 51,500 USD price point, the coin will obviously maintain a bullish momentum till $54k - $55k and create another swing point.
It’s important to note that the third swing point in a channel is not reliable. If you must short the coin for another round of profitable trade, you must consider some other trading apparatus.
Overall sentiment: Bullish
Decision rule: Buying the pair now is more preferable to taking a “long position at a high price point”.
