Due to today's CPI data, the crypto & stock market reacted with some volatility. ADAUSD profited from this situation and maintained a strong upwards trend throughout the day. The price is currently in the overbought area and is already showing some signs of weakness.
I took a short position one hour ago (10x) and I will keep this position for the next few hours.
This should end up as a pullback instead of a trend-reverse, therefore my target is located at the previous horizontal resistance.
My stop-loss is above the previous high - once we reach this level, we're likely going to see another high for today.
Trade carefully. Also, feel free to check out my bio for my crypto trades.
Cheers,
ARESABI
I took a short position one hour ago (10x) and I will keep this position for the next few hours.
This should end up as a pullback instead of a trend-reverse, therefore my target is located at the previous horizontal resistance.
My stop-loss is above the previous high - once we reach this level, we're likely going to see another high for today.
Trade carefully. Also, feel free to check out my bio for my crypto trades.
Cheers,
ARESABI
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