While the Market is in a short uptrend We see here a strong overbought market , if we look deeeper we can see that the Ichomoku 52 days Resistance line was the point where BTC could not pass , so combined the overbought market with a strong resistance i tend to go short
The most Alts are way overbought aswell
My target for shorting is
7200-7400
Another option is that it wil consolidate ina sidetrend on the 38,2% FIB ( 7600)
The most Alts are way overbought aswell
My target for shorting is
7200-7400
Another option is that it wil consolidate ina sidetrend on the 38,2% FIB ( 7600)
Note
As we see we have a strong support at the Kinjun- Sen (26day) if it holds we will see a sideway movement , i dont think it is the end of the corr ection
Trade closed: target reached
so my short target is reached i will go long , i will play my SL under the last Resistance (2%) for the case i am wrong
We see here a clear oversold market , big movement INC
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.
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.