We are starting to break this ascending triangle
to the downside. While we could have support at this level to finalize this part of the ascending triangle
. But....It's not looking like it, selling has picked up and it's looking like it's breaking to the downside. I will NOT be entering in for a buy to the upside at this juncture. The buy would have been valid if we didn't have a rebound in ETH/BTC
and got some continuation, but there is to much selling pressure which has come across all of the pairs.
Points to watch for bounces: 9k, 8k, 6k. Last point with potential is 3.5k. The trade strategy is to set martingale points in case we get a sharp drop, that way you can pick up prices on the way down. Look up the martingale strategy if you don't know what it is!!
Trade safe everyone.