1hr frame show us a market shift of structure limit entry below is most ideal at 59888 stoploss below at 56434
Note: market can still drop to 53k so stoploss is a must or just wait for 53k retracement , chances are you might left behind or might entry on a much discounted zone
Trb has break the trendline resistance and also the horizontal resistance as well a good indication of a bullish momentum.
but the question is, is it already bullish?
well in daily time frame it is not yet a clear bullish structure even if it breaks the trendline's resistance, as you can see it must break the upper range first before we can consider it a bullish daily bias don't get me wrong we re talking daily bias here.
but in the lower frame like 4hr chart and 1hr chart it is already considered bullish structure it just need a 2nd confirmation retracement to show it's support level's strength.
don't chase a potential falling 🔪 you might 🩸 not financial advice 🔥🤫
So we are almost here I'll buzz you up when the distribution phase is about to form
ideal to entry at distribution phase but setting a limit order at 53kish is what risk takers must do
the down side will be if market will not print distribution phase. That's why I highly suggest to wait for a clear distribution structure before we entry to avoid further damage on your profile
Our 57832 lower target 🎯 has hit and a long wick printed a sign of rejection, the question is will it continue to hit more lower targets around 53k-50k zone? or will it bounce back to 70k-72k zone?