For those who do not know, I am in a long term long trade from the 26k level.
In my previous analysis, I stated that 40k support seems to be holding and 61k is my next area of interest.
However, what would I do if 40k fails and 38k support gets hit?
38k is a major support level that do expect to hold.
If 38k gets hit, I plan to take profit at the next 0.618 fibbonacci level which would be at about 43k. If price rises beyond that to the 0.786 (at about 45k), I plan to flip short.
That is my plan in case 38k actually gets hit.
Again, if 40k holds, I'm expecting 61k and maybe higher.
I hope this analysis helps someone out there.
God bless,
Handy
In my previous analysis, I stated that 40k support seems to be holding and 61k is my next area of interest.
However, what would I do if 40k fails and 38k support gets hit?
38k is a major support level that do expect to hold.
If 38k gets hit, I plan to take profit at the next 0.618 fibbonacci level which would be at about 43k. If price rises beyond that to the 0.786 (at about 45k), I plan to flip short.
That is my plan in case 38k actually gets hit.
Again, if 40k holds, I'm expecting 61k and maybe higher.
I hope this analysis helps someone out there.
God bless,
Handy