It turns out there are quite a few altcoins that are currently hitting resistance zones on the daily chart.
A typical example is $CAKE . After a strong rally following the uptrend of $BTC, the price reacted downward by about 7% from the 1.8 resistance zone.
Pullback moves like this indicate that a strong price increase doesn’t necessarily mean the trend will continue rising right away.
When entering the resistance area, selling pressure may appear and cause the price to correct.
Personally, I still haven’t entered because I haven’t assessed that the profit-to-risk ratio is good enough in this phase.
Only trade when there’s an opportunity. If it’s not clear yet, staying out and observing is also a decision.
Room Future Miễn phí. ở Đây
A typical example is $CAKE . After a strong rally following the uptrend of $BTC, the price reacted downward by about 7% from the 1.8 resistance zone.
Pullback moves like this indicate that a strong price increase doesn’t necessarily mean the trend will continue rising right away.
When entering the resistance area, selling pressure may appear and cause the price to correct.
Personally, I still haven’t entered because I haven’t assessed that the profit-to-risk ratio is good enough in this phase.
Only trade when there’s an opportunity. If it’s not clear yet, staying out and observing is also a decision.
Room Future Miễn phí. ở Đây