Stop is todays high, target is 43 but probably even 40 at least
Wich way will it break out, acceleration will come, volume is dead and will increase.
Looks like it's breaking out, but the volume is missing. If volume increases i will cut my losses, otherwise the daily high is still my stop
its the same the other way around, olthough volume in a decline is less important. Volume in rising prices means conviction, so without volume its temporarly
With the low volume it made a false outbreak on the upside, but as you can see without conviction it dropped right below it again and even under ut now. If it get below the 43 than expect 40 as the next target. But keep in mind, this is just an correction in a clearly impulse wave up, so only short trades. No room for hoping it will loose 80% of its gain like most alts do lately
quick retrace back to 43, now second wave?
next wave to 40 and probably even 38. I have lowered the stop of rest of my position to 44
If it breaks and accelerate with volume, than almost certain it will to around 38
It is in a downward triangle, As you can see it had a false outbreak down and also one on the upside (the cirled sections). Both of them with volume. So chances are bigger it will break upwards and continue the strong rise in price from the 29 level. It can also break downwards ofcourse. Ideal would be a breakout, than a pullbak or retrace and that it than continues. If it does i will enter a short or a long trade again
Lets see if they can keep it under 41 this time
Looks like the sellers are going to win this time, it should stay below 41.50
Now i expect a retrace to 40/40.5. Than it should drop again
bearish flag, it could drop now or probably towards the 40/40.5
For the ones that did not get out yet, it can still drop to 36, but the bottem could have been set already. it should not get above 40 to stay negavtive, and above 42 its bullish again