Based on this 4H chart, it's currently in a downtrend.
Also, completed an ABCDE continuation pattern. Forecast to see a small pullback to Supply Zone before selling off!
Target profit 1 = next support i.e. 40k area (based on Daily)
Target profit 2 = next Demand Zone around 38k area (based on Daily)
Heading into the weekend. Volatility usually isn't high. Be patient and don't chase the market. Wait for some reversal pattern at 1H chart before entering.
Trade safely!
Disclaimer: I'm not giving any trading and investing advice. I'm just sharing my chart observations.
If you have any symbols that you'd like me to analyze, feel free to drop me a comment.
Also, completed an ABCDE continuation pattern. Forecast to see a small pullback to Supply Zone before selling off!
Target profit 1 = next support i.e. 40k area (based on Daily)
Target profit 2 = next Demand Zone around 38k area (based on Daily)
Heading into the weekend. Volatility usually isn't high. Be patient and don't chase the market. Wait for some reversal pattern at 1H chart before entering.
Trade safely!
Disclaimer: I'm not giving any trading and investing advice. I'm just sharing my chart observations.
If you have any symbols that you'd like me to analyze, feel free to drop me a comment.
Comment:
Yikes! Didn't even reach Supply Zone and it started dropping!
Trade closed: stop reached:
Setup invalidated