Hi there!
I'm waiting to see if we get a confirmation on this hammer on the 4h. It might be that the bears are starting to get tired for now and some might soon need to cover or close their shorts. I will trade this short term and with caution since I don't think that we have reached the bottom quite yet. But if momentum starts to pick up it might be enough to break some of the resistance we are facing overhead and at least bring in some profits.
Let me know what you think of this idea.
Best regards!
I'm waiting to see if we get a confirmation on this hammer on the 4h. It might be that the bears are starting to get tired for now and some might soon need to cover or close their shorts. I will trade this short term and with caution since I don't think that we have reached the bottom quite yet. But if momentum starts to pick up it might be enough to break some of the resistance we are facing overhead and at least bring in some profits.
Let me know what you think of this idea.
Best regards!