Timeframe: 30M
Main Scenario: Technically, the rate maintains a bearish perspective on the short term, so the rate could drop further in the upcoming hours and days. Right now you should wait for a valid breakdown below the lower median line (lml) of the descending pitchfork before you will go short again on this crypto. The rate failed to make a valid breakout above the median line (ml), so it could resume the downside movement.
Alternative Scenario: A false breakdown below the lower median line (lml) it could invalidate a further drop and could signal a potential upside movement.
Entry/Stop Loss/ Take Profit: Maybe you will have a great selling opportunity if the rate will make a valid breakdown below the lower median line (lml) and if it will close below the 0.91967696 level. The Stop Loss could be placed at 0.94787764 level and the Take Profit at 0.86115122 level.
Duration: 1 day
Consolidation/Ratification level: You can drag the Stop Loss below the opening price only after a valid breakdown below the 0.90403931 level.
Warning Level: A failure to reach the 0.90403931 level it will signal an oversold and a potential bullish momentum.
Risk Management: Risk/Reward Ratio: 2.08
Main Scenario: Technically, the rate maintains a bearish perspective on the short term, so the rate could drop further in the upcoming hours and days. Right now you should wait for a valid breakdown below the lower median line (lml) of the descending pitchfork before you will go short again on this crypto. The rate failed to make a valid breakout above the median line (ml), so it could resume the downside movement.
Alternative Scenario: A false breakdown below the lower median line (lml) it could invalidate a further drop and could signal a potential upside movement.
Entry/Stop Loss/ Take Profit: Maybe you will have a great selling opportunity if the rate will make a valid breakdown below the lower median line (lml) and if it will close below the 0.91967696 level. The Stop Loss could be placed at 0.94787764 level and the Take Profit at 0.86115122 level.
Duration: 1 day
Consolidation/Ratification level: You can drag the Stop Loss below the opening price only after a valid breakdown below the 0.90403931 level.
Warning Level: A failure to reach the 0.90403931 level it will signal an oversold and a potential bullish momentum.
Risk Management: Risk/Reward Ratio: 2.08