safe entry point - 11700$ after 1HR candle closed above this strong resistance. stop loss - 11400$. MACD - 4HR is still bearish so if not will be there a break point then probably we shall see drop to 10200$-9000$-6000$-4000$.
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We can see in 15m chart the begining formation of pennant. MACD 4HR still bearish.
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When the price fall at 9300-9200 we will get a double top confirmation point of previous bigger formation. When this resistance will be broken then we probably see next support line. Volume is still weak for growth up and there is also reset of oversold
Here is the chart
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If the candle closes below 9200 then next stop 8800 (not such strong supp) so after that I suppose 8300.
Lucky trading and strong fingers to everyone!
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I think we bounce back to 9100-9400 with oscillating and then we go more deep. It can takes 1-2 days. MACD 4H/1D is still bearish in this moment.
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Ok, we bounced how I expected and now we go down again. We sold at high and buy again in dip.
Makes no sense, entry 11700 stop loss 11400, did you mean 10700?
tommyelltom
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@TristanDanmark, I think it is totally ok. If we reach 11700 but without breakout 1HR candle closed above, that will show us a tripple top reversal and we are going down anyway.