Dear traders,
Intro: My name is Hugo, I am 24 years old and trading crypto currencies since late 2017. English is not my main language, however, I will try to explain everything brief and clear. Be aware that I am still in the learning curve. Every idea I post is not financial advice and is only meant for entertainment purposes only.
Analysis: In this scenario I personally think that whales want to squeeze longs down to 7K and then swiftly blast through 10K resistance. For this analysis I used the 'Fixed Range Vpvr' and the 'Fib Retracement' to see at what level I should set my limit buy orders. You can clearly see a huge support level at the 0.5 fib level. Therefore, I think lots of retail traders will sell if the 0.5 fib level breaks, which in turn will provide whales with a enough long liquidity to fuel a huge bounce.
Conclusion: I do not recommend shorting this to 7K. I do recommend setting limit buy orders between 6.8K and 7.2K. And of course always have your stops in place.
Goodluck!
Doctor Hugo
Intro: My name is Hugo, I am 24 years old and trading crypto currencies since late 2017. English is not my main language, however, I will try to explain everything brief and clear. Be aware that I am still in the learning curve. Every idea I post is not financial advice and is only meant for entertainment purposes only.
Analysis: In this scenario I personally think that whales want to squeeze longs down to 7K and then swiftly blast through 10K resistance. For this analysis I used the 'Fixed Range Vpvr' and the 'Fib Retracement' to see at what level I should set my limit buy orders. You can clearly see a huge support level at the 0.5 fib level. Therefore, I think lots of retail traders will sell if the 0.5 fib level breaks, which in turn will provide whales with a enough long liquidity to fuel a huge bounce.
Conclusion: I do not recommend shorting this to 7K. I do recommend setting limit buy orders between 6.8K and 7.2K. And of course always have your stops in place.
Goodluck!
Doctor Hugo
Dagangan ditutup: sasaran tercapai
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.
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.