Short
Football/USDT - December 12
Football is down and broken the Symmetrical Triangle properly and now its trying to hold its support of 616. It has broken all its main support after bounce back from 990. Now If it did not hold 616 then it will retest 565 again. Football was moving within range of 650 - 750 from few days but today it has broken 650 and touched 500.
Now its trying to go up and there are chances that it can try to retest 650 - 680 again and after that it will go down otherwise It can go down without any retracement as well. Right now 700 is its main resistance for further upload but if we see the over all market scenario then its showing clearly downward movement. At the moment we need to see its last support of 616 very closely and if it breaks then we will see new low very soon.
Football has tested 990 multiple time and there are lot of chances that it can go very low before any further upward movement. You can see double top of football at 990 which means new low will be very soon.
In long time frame its looking bearish to me and hoping for new low but remember its move is very fast either on upside or downside.
There will be volatility in this week because tomorrow there will be CPI data and next day Fed Rates will be announced. I think there will be some upward movement for account liquidation and after that it will be dumped or may be it will not go up and directly move to down.
Day Chart
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Note
Please never follow anyone blindly and always remember following key points:
1- First and Last thing in trading is patience.
2- Risk management in trading is a Key so use your money accordingly.
3- Please Don't think I'm always right. I could be wrong, same as every other trader.
4- I always posted my thoughts, not financial advice.
5- Please use your mind and try to get knowledge about market. It will help you in future
Thank you and Good Luck!
Now its trying to go up and there are chances that it can try to retest 650 - 680 again and after that it will go down otherwise It can go down without any retracement as well. Right now 700 is its main resistance for further upload but if we see the over all market scenario then its showing clearly downward movement. At the moment we need to see its last support of 616 very closely and if it breaks then we will see new low very soon.
Football has tested 990 multiple time and there are lot of chances that it can go very low before any further upward movement. You can see double top of football at 990 which means new low will be very soon.
In long time frame its looking bearish to me and hoping for new low but remember its move is very fast either on upside or downside.
There will be volatility in this week because tomorrow there will be CPI data and next day Fed Rates will be announced. I think there will be some upward movement for account liquidation and after that it will be dumped or may be it will not go up and directly move to down.
Day Chart
------------
Note
Please never follow anyone blindly and always remember following key points:
1- First and Last thing in trading is patience.
2- Risk management in trading is a Key so use your money accordingly.
3- Please Don't think I'm always right. I could be wrong, same as every other trader.
4- I always posted my thoughts, not financial advice.
5- Please use your mind and try to get knowledge about market. It will help you in future
Thank you and Good Luck!
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.