As you can see, after the price dropped, it made a retracement close to the 0.78 Fibonacci level, and then the market reacted with another downward move.
At the same time, a triangle pattern—or whatever you’d call it—has also formed, which is often considered a continuation pattern, especially in a downtrend. So, there’s a chance the price could drop further.
Personally, I entered a short position at 0.121$, with my take-profit set at 0.8$.
At the same time, a triangle pattern—or whatever you’d call it—has also formed, which is often considered a continuation pattern, especially in a downtrend. So, there’s a chance the price could drop further.
Personally, I entered a short position at 0.121$, with my take-profit set at 0.8$.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.