CTK is currently within a wedge and we are approaching the triple bottom level at 0.80.
There is a possibility that we can bounce from the recent structure level at 1.40 but the best place to get in would be the 0.80 level. We may be in a bear flag right now and could be seeing one more drop back to the lows.
Trade Idea:
- Watch for price to come back to the 0.80 level
- Enter with stops below that level
- Target the recent highs as first target (3) and then target 3.8 as second target
Please be mindful that a confirmed breakout will be after the break of the descending black trendline.
Goodluck and trade safe!
There is a possibility that we can bounce from the recent structure level at 1.40 but the best place to get in would be the 0.80 level. We may be in a bear flag right now and could be seeing one more drop back to the lows.
Trade Idea:
- Watch for price to come back to the 0.80 level
- Enter with stops below that level
- Target the recent highs as first target (3) and then target 3.8 as second target
Please be mindful that a confirmed breakout will be after the break of the descending black trendline.
Goodluck and trade safe!