In the daily chart
, we can clearly see a wide correction of the downward trend. This produces a high potential for a short positioning; there is plenty of space until the low at 18 USD. This is why we can and should wait for a signal in the subordinate trend size. In addition, since the SMA
50 has been broken through once again for the first time in months now, which is seen as a bullish
signal, an entry after a P2 in a subordinate trend size offers more security.
A partial sale should be carried out starting from 18.50 USD, since this is where the prices hit a significant decision zone and could bounce back off. Above 24 USD, the short scenario becomes invalid.
Before making an entry, one should take the news into consideration. In addition, one should also observe the overall market as well as the actions of the central banks.