The support zone 1 still holds the market. If the price bounces from it, we should be ready to catch a new upward movement. The safe entry can be done based on a breakout above the downtrend line and the previous swing high. We can place pending orders for buy at 15300.00 level with stop orders below the previous swing low at 11500.00 level. The main profit target is 20000.00 level. As for long term trading, the profit can be fixed at 25000.00 level.
Alternative variant: if the price breaks the 1st support zone , new trading opportunities should be at 10000.00 level.
Alternative variant: if the price breaks the 1st support zone , new trading opportunities should be at 10000.00 level.
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FXtrai66
looks good! :) thanks for sharing
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Heinzz
@DLavrov Why are you willing to risk buying at $15,300 with a stop at $11,500? That's a 24.83% loss if the market went against you. Protecting your money is the most basic rule in trading. While I know trading cryptos requires a bigger stop loss than trading in the stock markets, but being willing to take a 25% loss seems like a bad idea to me.
+6
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DrJLT
You have a clear downward trend line. Why make these baseless guesses?
+1
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farshadjahanmanesh
Head and Shoulders over?
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AntonioObrvan
farshadjahanmanesh
@farshadjahanmanesh, I am also interested
+1
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may11
I've waited this posting a lot! Thank you!
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TheChasm
This is desperate idea for wanting to go long. There really is no good long trade right now.
+9
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Cradlethebomb
TheChasm
@TheChasm, nope, but 10k level will create sideways up and down. Bears will be riding on the bulls backs. Have you ever seen those videos of Grizzly attacks? For a bull to survive that, it would have to be able to run really fast. ;)
+1
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nginx
TheChasm
@TheChasm, He did say to wait for the break above the downtrend line and not enter now. It's clear from the chart that the support zone at $11.7k is still holding which means formation of a higher high from this bounce point would signal a bullish shift in momentum. Alternatively, a descending triangle could form with the failure to break the downtrend line. We have to keep both options open and trade accordingly.
+5
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