The crypto pair peaked and began correction at the anticipated value area ($52-$53).
At this moment, it’s gaining momentum for another round of Northward movement.
Despite its slippage off the marked value area(49,500 USD), the pair still got the attention of intermediate trend riders.
A two bullish candlestick set up is gradually giving hope that the crypto buyers forces would outweigh sellers forces.
If the crypto pair buyers can successfully reclaim the $50k value area and trade above the 51,500 USD price point, the coin will obviously maintain a bullish momentum till $54k - $55k and create another swing point.
It’s important to note that the third swing point in a channel is not reliable. If you must short the coin for another round of profitable trade, you must consider some other trading apparatus.
Overall sentiment: Bullish
Decision rule: Buying the pair now is more preferable to taking a “long position at a high price point”.