hi traders,
Let's have a look at BABA on a 1h time frame.
After reaching approx.140$ levels, BABA experienced a significant correction and visited the 96$ level, which could very well be a bottom here.
After reaching 96$, the price has been forming a rising wedge pattern.
When the majority switched to a full bull mode again, we expect the trend to be a bit choppy now.
I'm expecting the price to break down out of the rising wedge sometime next week.
If you're a bear, you can take a short position at the breakdown.
The target for bears is around 106,50$.
If you're a bull, don't buy now but wait for a pullback.
There's a gap to 125$ that may get filled before the rising wedge plays out, so don't be surprised if the prices push a bit higher.
Good luck
Let's have a look at BABA on a 1h time frame.
After reaching approx.140$ levels, BABA experienced a significant correction and visited the 96$ level, which could very well be a bottom here.
After reaching 96$, the price has been forming a rising wedge pattern.
When the majority switched to a full bull mode again, we expect the trend to be a bit choppy now.
I'm expecting the price to break down out of the rising wedge sometime next week.
If you're a bear, you can take a short position at the breakdown.
The target for bears is around 106,50$.
If you're a bull, don't buy now but wait for a pullback.
There's a gap to 125$ that may get filled before the rising wedge plays out, so don't be surprised if the prices push a bit higher.
Good luck
Pesanan dibatalkan
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💥 Free signals and ideas ➡ t.me/vfinvestment
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.