Bullish Relief Retracement. Taken Profit. Third Bearish Trend?
KEY POINTS:
- RSI is Bearish.
- Volume is Bearish.
- The Price Action is within the Bearish channel.
So, we think that the Trend is Bearish.
- RSI is also a bit oversold.
- Volume is falling.
So, we think the Price Action is weak, which - in this case - favors the Bears because it will stay within the channel, which is Bearish.
In the end, we expect a Bullish relief retracement to $36 000, then more Bearish Trend Continuation towards $30 000.
- RSI is Bearish.
- Volume is Bearish.
- The Price Action is within the Bearish channel.
So, we think that the Trend is Bearish.
- RSI is also a bit oversold.
- Volume is falling.
So, we think the Price Action is weak, which - in this case - favors the Bears because it will stay within the channel, which is Bearish.
In the end, we expect a Bullish relief retracement to $36 000, then more Bearish Trend Continuation towards $30 000.
Operación cerrada: objetivo alcanzado:
As we've predicted, the Price went up from $34 700, hit $36 000 then fell to the down channel ($33 000 - $32 000).
The Risk-Reward Ratio was not good enough for us to trade. Nevertheless, Congratulations if you took our Idea and closed your Long in +37% (x10) Profit ✨
The Risk-Reward Ratio was not good enough for us to trade. Nevertheless, Congratulations if you took our Idea and closed your Long in +37% (x10) Profit ✨
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Comentarios:
We seek a better entry for our Short position.
We suggest you might want to Long here with a tight Trail Profit.