If you haven't been joining the rally so far, it's nice to enter now - EMA 200 seems to be holding (recent fall is a natural correction if you check RSI).
If you wish to be more conservative, enter if BTC -0.22% holds above 7.55. In other words, set the SL at 7.55 if you enter now (or have entered).
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Bear in mind that technically, there should be a little more downfall - for corrective purpose.
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(It's just that the recent rally seems to be very bullish - I don't expect a full retracement to occur - but the trading is all yours! If you are very risk aversive, entering now is not a good idea.)
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So far so good. But it would be way better if we can break out from the smaller flag. Personally I expect a little more sideways within the larger flag.
Id say a good entry point is between 6900-7100 to be safe and conservative. Now is too risky.! I completely agree with that statement! this will plummet in a few days!
cedricpark
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@CryptoBuzzAnalyst, I have added some more at 7.82 level. Unsure how high up it can go but I don't think 6.9-7.1 is coming any time soon. Even if EMA 200 fails we still have a lot of support at the range (7.85-7.55).
CryptoBuzzAnalyst
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@cedricpark, so whats the lowest you think it can go in these next 48 hrs??? So I can reevaluate a solid entry point. ??
cedricpark
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@CryptoBuzzAnalyst, Personally? 7.55. Well that's my estimation. I have sold half of the ones that I have bought at 6.8 and is adding more as we find support. I would sell all if 7.55 is confirmed as an insufficient support. But highly unlikely.
CryptoBuzzAnalyst
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@cedricpark, My buddy had on his chart 7561. So I see you are both about at the same level. So Ill make my entry point around there! Thanks