Current Price Dump and your Action as a Merchant
Hey Merchants! it’s nice to have you here today.
Let’s look at the weekend dump and it’s subsequent consequences. Before the weekend dump, we left a prediction that price will dump to values below $7.9 following the 4H chart. We had a more serious dump than we expected.
The weekend dump should be a forced dump following a massive sell from hodlers who took huge profits to maybe prepare for the end of the year.
Nonetheless, we are at the advantage of buying more.
The first chart shows two support levels which are at the $6.2 blue horizontal level and the $5.6 level.
Price left the $5.6 zone as long as three months ago and cannot possible rest there on visiting the zone during the weekend.
That’s the reason for the bounce off that left a long pin.
Price will still come down to that zone but will retrace shortly in the bullish direction at the $6.29 level according to the Gann Fan prediction levels.
The Gann fan shows that the 1/1 level was tested three times before the breaking of that support level to bring price to its current low position.
Buy limit is a good trade order to be placed at the $6.2 level.
Good Luck trading this week
Let’s look at the weekend dump and it’s subsequent consequences. Before the weekend dump, we left a prediction that price will dump to values below $7.9 following the 4H chart. We had a more serious dump than we expected.
The weekend dump should be a forced dump following a massive sell from hodlers who took huge profits to maybe prepare for the end of the year.
Nonetheless, we are at the advantage of buying more.
The first chart shows two support levels which are at the $6.2 blue horizontal level and the $5.6 level.
Price left the $5.6 zone as long as three months ago and cannot possible rest there on visiting the zone during the weekend.
That’s the reason for the bounce off that left a long pin.
Price will still come down to that zone but will retrace shortly in the bullish direction at the $6.29 level according to the Gann Fan prediction levels.
The Gann fan shows that the 1/1 level was tested three times before the breaking of that support level to bring price to its current low position.
Buy limit is a good trade order to be placed at the $6.2 level.
Good Luck trading this week
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لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.