Looking like a ripe shorting opportunity, though expecting a short pump before it dumps
Reasons:
- Trendline not definitely broken - could be a fakeout from the bottom of the trendline
- RSI around 38, which is still bear territory
- Declining open interest (over $1 bn yesterday vs 938 mn now)
- Consistently failing to break, close and retest 9600 mark
- EMA50 flipped from support to resistance
- Lower low and lower high
Open Short: 9650-9900 - staggered
T1: 9471
T2: 9240
T3: 8890
SL: 10293
Reasons:
- Trendline not definitely broken - could be a fakeout from the bottom of the trendline
- RSI around 38, which is still bear territory
- Declining open interest (over $1 bn yesterday vs 938 mn now)
- Consistently failing to break, close and retest 9600 mark
- EMA50 flipped from support to resistance
- Lower low and lower high
Open Short: 9650-9900 - staggered
T1: 9471
T2: 9240
T3: 8890
SL: 10293
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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.