What is going to happen?

I entered short at 0.709233 hoping that the price would go down… But it is currently in -1059… If it goes on like this, it is going to be a heavy loss…

But look at the charts. In the daily chart below, the price is already in the resistance area (check the trend lines)… Depending on what I see in the chart, the price should go down. Stochastic indicator in the daychart is already showing overbought condition. The last one is hourly chart where is no obvious trend for the last few hours… What do you guys think will happen? Just look at the charts and tell me…






Yes, dailies show a downtrend since 07/09/16 but price closed above 200EMA 11/01. That’s a warning sign for sellers that you’re taking on higher risk. Yes, it did get above the 200 in November as well and then dropped below it back into the downtrend, but it took 13 sessions to do so. The current upleg from the 200 is faster and already makes a higher percentage rise. At this rate, it seems price will at least test the significant high of 14/12. At this point, with the 200EMA flatlining, I wouldn’t rule out a further rise from there.

Thanks Tommor… Fortunately, what I expected to happen is happening now… There is a fast downward movement now… Under profit it was showing -1059 when I started the thread, now it is down to -328… If the price still comes down and the profit becomes a positive integer, it will be awesome… I have my take profit at 0.691291.

Nobody can give you an answer for certain on what is going to happen.
There is a probability that it could do anything, in the next instant a big news release can cause that market to violently jump up and down.

A bunch of traders might decide at the exact same instant to take profit on their long trades, causing the market to move down. Then more traders will see the move down and possibly take it for an actual move to the downside, which can then build more momentum. Soon the panic can ensue and before everyone realises the market has jumped a huge distance to the downside. After everything quiets down people realise that the market is underpriced, massive buying ensues and it overshoots where the real value should be and people go mad and keep on buying and cause a bubble.

There are a great number of forces at work here, nothing is predictable.