It breakup the key downtrend resistance Line (RED Zone) with volume minor increased.
And it face to challenge the EMA200 Major Key Resistance area.
Need, Need, Need Volume to have a Real Breakup.
Otherwise it might be a Fake Breakup...
Possible 2 Development Scenario:
Scenario 1: Real Breakup (Lime Color Line)
It might be developed in Rev-H&S pattern to break it up (the guessed lime color line) together with volume while it break the neckline. At the same time it backtest the downtrend Red Zone to check if it turning to a support Zone or not.
Scenario 2: Fake Breakup (Pink Color Line)
Because the volume is minor increased, it might Backtest the downtrend Red Zone, and it might not provide enough support. Then it will be a fake one.
On the other hand, when we observe cross trading between Ethereum and Bitcoin pair.
It was oversold and It rebounce strongly, but It face the pressure zone, too. The pressure zone is the previous H&S neckline zone + plus the downtrend Moving Average line.
Let's be careful and keep watchful eyes for this development.
Oh... Yes, we are in the Long side.
And it face to challenge the EMA200 Major Key Resistance area.
Need, Need, Need Volume to have a Real Breakup.
Otherwise it might be a Fake Breakup...
Possible 2 Development Scenario:
Scenario 1: Real Breakup (Lime Color Line)
It might be developed in Rev-H&S pattern to break it up (the guessed lime color line) together with volume while it break the neckline. At the same time it backtest the downtrend Red Zone to check if it turning to a support Zone or not.
Scenario 2: Fake Breakup (Pink Color Line)
Because the volume is minor increased, it might Backtest the downtrend Red Zone, and it might not provide enough support. Then it will be a fake one.
On the other hand, when we observe cross trading between Ethereum and Bitcoin pair.
It was oversold and It rebounce strongly, but It face the pressure zone, too. The pressure zone is the previous H&S neckline zone + plus the downtrend Moving Average line.
Let's be careful and keep watchful eyes for this development.
Oh... Yes, we are in the Long side.
تعليق:
We take profit of all of our Hit and Run Ethereum VS USD position.
We take profit of all of our Hit and Run Bitcoin VS USD position, too.
70% of our Long-term holding Long Position were taking profit recently, too.
We take profit of all of our Hit and Run Bitcoin VS USD position, too.
70% of our Long-term holding Long Position were taking profit recently, too.
Look like the original downtrend line can provide enough support.
If it does not provide strong support, then, the bear will take the position of the Driving Seat.