Price is currently trading below a downtrend line.
Every time price has touched this trendline, it has experienced a sell-off.
Price is now approaching the trendline again, and after 3 previous touches and sell-offs, it appears that the trendline may be has weakened
Therefore, a breakout of the downtrend line and the 25.2 level can be expected.
If this occurs, we...
Market Observation:
Considering a long trade on INJ, with a safer option to wait for BTC to surpass the $60,000 level before entering.
Trade Setup:
Entry: $22.50 - $26.00. Alternatively, wait for BTC to break $60,000 before entry.
Take Profit: $30.00 - $32.50 or $39.00 - $41.50.
Stop Loss: Just below $22.00.
Risk Management:
Utilize a stop loss just below $22.00...
