- Hello everyone!
Every time the market enters trading areas that I personally find relatively risky, I am here with you to share my views to the assess your risk when participating in the market now.
After the previous warning, BTC had a pretty strong drop of 2k$ on the support trend of the D1 upward trend of the previous wave, (the trend on the chart.) Here the price tends to recover and is currently trading. near the key price zone 9450. I personally target this bounce around the 9550-9650 level which is also the zone around the Fibo retrace level of 78.6 and also the previous long-term downside resistance. Thus, the difference in the amplitude value of $ 100-200 to move us to the risk trading area is very risky.
Considering factors on the model. The price seems to be forming a reverse Head $ Shoulder model (I circled it before). Here, with the strong selling pressure, it is very easy to form the lower right shoulder, lower than the previous peak.
Elliot wave structure: My point of view is that this is only a rebound of the market after a sharp drop in the simple correction ABC structure. And we are finishing the final beats at peak B with a target around 9k6.
There is another plan I am quite wondering whether BTC will increase or not. But which Plan has hesitated, we decided not to trade and wait for the reaction of the market
for bullish signals I will update later)
Trading advice: For me this is a trading area that is no longer safe and the crime of still implementing the old strategy, taking profits or raising Stoploss to preserve current capital.
For your margin: Scapling long try to raise the absolute Stoploss because the price can be reversed at any time. Hey, please wait for the reaction of the price line to see if there is a Big Drop.
Sorry for my english text. I'm Vietnamese.
tks, Trading team 268. I hope you the best!!!
http://prnt.sc/sgoq4l
