hi traders,
Let's have a look at BABA on a 1h time frame.
After reaching approx.140$ levels, BABA experienced a significant correction and visited the 96$ level, which could very well be a bottom here.
After reaching 96$, the price has been forming a rising wedge pattern.
When the majority switched to a full bull mode again, we expect the trend to be a bit choppy now.
I'm expecting the price to break down out of the rising wedge sometime next week.
If you're a bear, you can take a short position at the breakdown.
The target for bears is around 106,50$.
If you're a bull, don't buy now but wait for a pullback.
There's a gap to 125$ that may get filled before the rising wedge plays out, so don't be surprised if the prices push a bit higher.
Good luck
Let's have a look at BABA on a 1h time frame.
After reaching approx.140$ levels, BABA experienced a significant correction and visited the 96$ level, which could very well be a bottom here.
After reaching 96$, the price has been forming a rising wedge pattern.
When the majority switched to a full bull mode again, we expect the trend to be a bit choppy now.
I'm expecting the price to break down out of the rising wedge sometime next week.
If you're a bear, you can take a short position at the breakdown.
The target for bears is around 106,50$.
If you're a bull, don't buy now but wait for a pullback.
There's a gap to 125$ that may get filled before the rising wedge plays out, so don't be surprised if the prices push a bit higher.
Good luck
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💥 Free signals and ideas ➡ t.me/vfinvestment
免责声明
这些信息和出版物并不意味着也不构成TradingView提供或认可的金融、投资、交易或其它类型的建议或背书。请在使用条款阅读更多信息。