During this month the general trend can be contained into a downward channel. In this moment we are in the lower side of it. The previous leg down has a 130 degree tilt and now it seems consolidating in the 450 area. So in my opinion there is the possibility to see some sideways in the lower channel. At the same time we are in a the middle of a bullish divergence, so for the short term i'm looking for a new leg up. Good luck for your trading
UPDATE: considering the unexpected channel breakout the short term prediction is gone very bad, in any case the levels on my daily chart seems holding. Sorry for the wrong short term prediction...
Comments
ChartArt
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I was also bullish exactly there. But China decided it's not enough so they dumped the USD bottom down and it broke ...
cantestogo
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Yes, to be honest i didn't expect a such impulsive drop. There is an article that correlate it with the Chinese and European investors going from Bitcoin to Alibaba. Good luck
ChartArt
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I've read it, too. I think that article is bullshit.
cryptomojo
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Nice news excuse for whales to play the market though... no?