If you have been in the crypto space for a while you might have been used to this kind of moment of extreme fear and uncertainty coupled with high volatility . That is a lot of emotion in the market. Unlike currency pairs, Crypto thrives in this situations like this probably due to a lot of retailers and nonexperience traders in the market so manipulations thrive. Either extreme greed like it happened at the top or extreme fear like I suspect now so now into the analysis
I will keep it simple!
Based on Break or structure (BOS) or Change of character and order block.
One thing is sure in this market is that we can never be too sure so more reason you shouldn't over-leverage and always trade with SL.
Haven said that I think people relate to the market in different ways so If you are a holder and looking to sell, I think it is too late, and with 4H RSI being oversold regardless, but if you are looking to enter the market I think you should wait for bullish confirmations is this area else the trade is invalid.
Disclaimer!
I am not responsible for what you trade, DYR.
Good Luck!
I will keep it simple!
Based on Break or structure (BOS) or Change of character and order block.
One thing is sure in this market is that we can never be too sure so more reason you shouldn't over-leverage and always trade with SL.
Haven said that I think people relate to the market in different ways so If you are a holder and looking to sell, I think it is too late, and with 4H RSI being oversold regardless, but if you are looking to enter the market I think you should wait for bullish confirmations is this area else the trade is invalid.
Disclaimer!
I am not responsible for what you trade, DYR.
Good Luck!
Trade active:
I think this order will be filled as predicted and will take us to 1500 as the price printed an engulfing candle on the 1H chart....Time will tell...Trade with care guys
Comment:
No cause for alarm yet, might be the market trying to take out the weak hands. Trade with care!