After 2 months the trend seems to have stopped in a support zone and I have decided to close the short position conservatively. This may be the inversion, but before entering long I need further confirmation.
Pushed up to 5700 he returned strongly to the dynamic resistance, going beyond it.
The bullish signal could be given:
-from the breaking of the new trendline traced on the new relative maximums (thick yellow line)
- concomitantly the breaking of the rectangle (last pivot maxima and minima)
-The crossing between closing and averages can confirm the validity of the signal.
I usually take a position following the price movement, but the risk is that this just started could be 4 di 5 wave.
I will carefully consider whether to enter short ahead of time.
To keep an eye on the zone 9500 because, if the 0.00% price surpasses the maximums of that area could mean that this is not a 12345 but a bearish abc. Moving from the first to the second case, this movement would be b, which could bring the price back to 12.000usd.
the chances that the bearish medium-term trend has ended are few, but this could still be the beginning of an important upward movement.
To recap:
- First targets in the 8000usd zone if the long position is opened;
- I wait for the conclusion of the uptrend (in all cases, therefore), bearish targets below
Pushed up to 5700 he returned strongly to the dynamic resistance, going beyond it.
The bullish signal could be given:
- concomitantly the breaking of the rectangle (last pivot maxima and minima)
-The crossing between closing and averages can confirm the validity of the signal.
To keep an eye on the zone 9500 because, if the 0.00% price surpasses the maximums of that area could mean that this is not a 12345 but a bearish abc. Moving from the first to the second case, this movement would be b, which could bring the price back to 12.000usd.
To recap:
- First targets in the 8000usd zone if the long position is opened;
- I wait for the conclusion of the uptrend (in all cases, therefore), bearish targets below
