📊 Analysis: Market Analysis: Possible Retracement Zone
In our previous analysis, we discussed BTC, ETH, and LINK, identifying potential profit-taking zones as the market was rising. Now, the market has reached these levels. Since these areas were previously zones of interest, they could act as potential bearish reversal points.
📌 BTC (Bitcoin)
📊 Analysis: If the Inverted Hammer closes on the 12-hour timeframe, it could signal a sell opportunity.
Action: SELL
Stop Loss: 88.85K
Take Profit: 78.3K
📌 ETH (Ethereum)
📊 Analysis: If the trade closes with a Harami Candle on the 12-hour timeframe, it could indicate weakness in the uptrend due to low activity.
Action: SELL
Stop Loss: 2106
Take Profit: 1833
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📌 LINK (Chainlink)
📊 Analysis: The 12-hour chart shows a candle resembling a Hammer, but its long head makes it less of a classic hammer. However, it could also be considered a Harami. Meanwhile, the 6-hour chart clearly shows an Evening Star Reversal Pattern.
Action: SELL
Stop Loss: 15.4
Take Profit: 12.5
⚠ Note: This is just my personal market perspective. Always wait for candles to fully close before entering trades, and trade with caution!
