Hi traders, my possible view of the situation.
I am no professional trader and I pay to get advice on what to put my money.
Possible scenario:
After the price line did not find support at the super inclined trend line (green line), it fell through and it is possible it will fall thru to the bottom of the wedge (orange broadening wedge pattern). Area where it will find support is possibly somewhere between S2 and S3 (15,426$ and 15,133$). After that we are hoping for an uptrend to our target between 19-20k, with stopping at Pivot line and Resistance lines on the way.
On the side, many bullish signs and just a few bearish. Most bearish sign is the Fear&Greed Index which is at the Extreme Greed. Can we disregard it?
Whats your thoughts? Can we hold until 20k?
Cheers!
I am no professional trader and I pay to get advice on what to put my money.
Possible scenario:
After the price line did not find support at the super inclined trend line (green line), it fell through and it is possible it will fall thru to the bottom of the wedge (orange broadening wedge pattern). Area where it will find support is possibly somewhere between S2 and S3 (15,426$ and 15,133$). After that we are hoping for an uptrend to our target between 19-20k, with stopping at Pivot line and Resistance lines on the way.
On the side, many bullish signs and just a few bearish. Most bearish sign is the Fear&Greed Index which is at the Extreme Greed. Can we disregard it?
Whats your thoughts? Can we hold until 20k?
Cheers!
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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.