Ascending wedge on the 3-Day Chart.
Neutral for now. Equities are in a downtrend as well; however the major asset classes (Crypto and Equities) have been trading at major resistance after the covid sell-off recovery.
The wedge can be in play until early July. So best not to get shredded in the market and plan good entry for good risk to rewards.
Shorts - No entry zone. The time to do that was at 10k. Poor risk management to enter trade now.
Bulls - Entry below the wedge (Sub 9.1k as we can get a wick in this region).
Neutral for now. Equities are in a downtrend as well; however the major asset classes (Crypto and Equities) have been trading at major resistance after the covid sell-off recovery.
The wedge can be in play until early July. So best not to get shredded in the market and plan good entry for good risk to rewards.
Shorts - No entry zone. The time to do that was at 10k. Poor risk management to enter trade now.
Bulls - Entry below the wedge (Sub 9.1k as we can get a wick in this region).
Comment:
Here's a better chart as this didn't post properly from my phone :p
