Hello, my friends.
In my previous analysis, I made a mistake. The market always has scenarios to surprise you, and losses and mistakes are part of the market. It is important for you to be able to manage your losses effectively.
Nevertheless, a series of events and news have caused price growth. Now we have two scenarios for the future.
In the first scenario, as the price approaches the upper bound of the ascending channel, it is likely to react and then bounce back to the price range of 30,700 before resuming its upward movement.
In the second scenario, if the price fails to break above the previous ceiling at 31,400, we might witness another price decline to the range of 28,800.
In the current conditions, I do not recommend entering any positions. I suggest we wait and see the outcome of the supply and demand battle around the price level of 30,000. Only then can we make a better decision for entering trades.
To succeed in the market, do not fight against it; understand it and go along with it.
In my previous analysis, I made a mistake. The market always has scenarios to surprise you, and losses and mistakes are part of the market. It is important for you to be able to manage your losses effectively.
Nevertheless, a series of events and news have caused price growth. Now we have two scenarios for the future.
In the first scenario, as the price approaches the upper bound of the ascending channel, it is likely to react and then bounce back to the price range of 30,700 before resuming its upward movement.
In the second scenario, if the price fails to break above the previous ceiling at 31,400, we might witness another price decline to the range of 28,800.
In the current conditions, I do not recommend entering any positions. I suggest we wait and see the outcome of the supply and demand battle around the price level of 30,000. Only then can we make a better decision for entering trades.
To succeed in the market, do not fight against it; understand it and go along with it.
