CYBER has formed a short-term bottom and is starting a new upwar
CYBERUSDT Short-term bottoming out is over! The latest price is at 4.497! Bulls are about to initiate a strong comeback trend!In the past 1 day and 2 hours, we've witnessed a roller-coaster market with a whopping 32% amplitude. If you're a short-term trader who can withstand staying up late and has sufficient monitoring energy, there have been two valley patterns emerging since the last reversal from the bottom at 3.705. Buying low and selling high, even spot trading alone could yield decent profits!
What's ahead? Let's sketch a quick scenario. As indicated by the arrows in the chart, there are two potential ways to break resistance. One is a direct breakthrough of the first circle, and the other involves a small rebound followed by a stabilizing pullback before piercing the price of the second circle.
For medium-term holders, waiting for the price to reach 6.26 could offer a good swing profit opportunity if there's a sudden surge in volume. If you're a day trader with ample energy and time, exploring each turning point in the tops and bottoms within 1-hour or 2-hour candlesticks could be a strategy.
Additionally,
BTCUSDT has seen slight rebounds in the past few days, but it's not enough to confirm a bullish trend. #Bitcoin still needs to retest its August 17th low point at 25166 to ascertain whether it will break down further or confirm bottoming out amid increased volume, transitioning into an upward trend.
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.