Even though it seems that yesterday's rally broke every resistance area on it's way to a new all time record, do note that yesterday's daily bar closing rate was kept INSIDE the tunnel.
Meaning: Possible bullish trap.
A reasonable trade will be SHORT with stop loss above yesterday's high and a limit at bottom of the tunnel. minimum risk, maximum profit possibility.
As for me, I am not a big fan of buying against the momentum, so I will wait for it at the bottom of the tunnel and then buy.
Still believe that a strong correction is ahead of us.
Meaning: Possible bullish trap.
A reasonable trade will be SHORT with stop loss above yesterday's high and a limit at bottom of the tunnel. minimum risk, maximum profit possibility.
As for me, I am not a big fan of buying against the momentum, so I will wait for it at the bottom of the tunnel and then buy.
Still believe that a strong correction is ahead of us.
Comment:
Looks even better with my original COINBASE chart
Comment:
Still inside the tunnel + reached 3K.
Still believe it's going down unless the upper side of the tunnel is broken.
We should face quite a correction pretty soon.
Still believe it's going down unless the upper side of the tunnel is broken.
We should face quite a correction pretty soon.