To be clear guys, this market is still in very dangerous territory, even the most extreme things could happen (in a negative sense). I don't want to scare anyone, because i don't have any facts, expect for the things that are clear with Bitcoin:
Low volume
Tether
These factors are still hanging over the market and are bearish, plain and simple! I am saying this, to make clear that you should just see this as a trade, so keep the sizes small. The 4 yellow entries are 25% of a normal size. So just start to scale in at those 2 yellow zones, so in case the price drops through the red stop zone, the losses are small. If we do go up, we will increase the position at those other 2 levels and we can make it a bigger one finally at the purple circle.
Low volume
Tether
These factors are still hanging over the market and are bearish, plain and simple! I am saying this, to make clear that you should just see this as a trade, so keep the sizes small. The 4 yellow entries are 25% of a normal size. So just start to scale in at those 2 yellow zones, so in case the price drops through the red stop zone, the losses are small. If we do go up, we will increase the position at those other 2 levels and we can make it a bigger one finally at the purple circle.
Note
Still moving as planned, but the market is still in danger zone of course. Depending on the risk you want to take, you could move the stop to 0.073ish or use 2 stops levels.Note
ADA not looking bad but also not great. Seems to have formed a solid triangle. So think it's best to use that triangle support as a stop level now.
Note
I gave a (small) warning for everything yesterday and as suspected we have not seen anything big so far. But like with ADA this triangle broke and so far it still looks like a retest of former support. We have not seen a dump yet so could still all be meaningless, but i would use this red are as in important level. If the bulls can push above that one, it could mean it was a false break out and that it will continue to move higher. But if we see rejection, or not even able to reach that level, we have to assume we will reach the target of that triangle, somewhere where the red line ends.
The trade was looking quite good, but the market is still in this sideways mode, so almost every move is without any meaning. Really hard to trade this. So when your already out of this i would stay out. Would only make another attempt if it gets above that red zone.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.