GALA: at this point wait to short

٦ يناير ٢٠٢٣

Ok, here the daily chart:

I think that until BTC stays in green various alts could do this dead cat bounces, in this case it's too late to jump on the longs but you could wait for shorts. Considering that a pin bar (shooting star in this case) already happened below the first level at which I'd attempt a short I'd set a sell order over that OB. Let's say around 0.0245 USDT.

It might go but also fail, I wouldn't risk too much though so set the SL accordingly. If price oges over 0.255 I'd wait for the second OB to short. I'm still not trading actively because of my dissertation, soon I'll finish it and I'll start again.

Good luck

٨ يناير ٢٠٢٣

ملاحظة

If you entered following my advices you saw my adviced stop loss didn't trigger by little and you're currently in your short.
Here the 1h chart with my main target:

٩ يناير ٢٠٢٣

أغلقت الصفقة: تم الوصول لوقف الخسارة

So, market turned euphoric for BTC going over 17K again and GALA pumped a lot but if BTC doesn't hold this level and dumps (which is what I think it will happen) in a couple of days we might see GALA doing the same. Stay tuned!