Firstly I should warn you:
Do not rely on this notice, nevertheless it is very useful notice and you should pay attention to this when taking decision, especially if you are a hodler.
Flat along the 20 Daily MA as a bearish sign. As we see on the Chart previously such interaction with 20 MA led right to the bottom.
Two examples that I gave on the Chart has one more similarity than just flatting along 20 MA. This similarity is that Price was sitting on its strong support zone and we saw retracements likewise as we see them now.
So can such behavior lead us to the bottom? -Yes, but with low probability.
Can such behavior lead us to the subsequent decline? -Yes, and probability is pretty high, because the Price is under strong resistance and we see the price has not a high chance to close above the one. Also as we know the resistances are more effecient to hold the price than support during a downtrend.
Thank you for reading this idea! Hope it's been useful to you and some of us will turn it into profitable.
Please hit the Like button if you consider this idea helpful and follow us for supporting. Also share your own analyzes and thoughts in comments below.
Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts.
The information given is not a Financial Advise.
Do not rely on this notice, nevertheless it is very useful notice and you should pay attention to this when taking decision, especially if you are a hodler.
Flat along the 20 Daily MA as a bearish sign. As we see on the Chart previously such interaction with 20 MA led right to the bottom.
Two examples that I gave on the Chart has one more similarity than just flatting along 20 MA. This similarity is that Price was sitting on its strong support zone and we saw retracements likewise as we see them now.
So can such behavior lead us to the bottom? -Yes, but with low probability.
Can such behavior lead us to the subsequent decline? -Yes, and probability is pretty high, because the Price is under strong resistance and we see the price has not a high chance to close above the one. Also as we know the resistances are more effecient to hold the price than support during a downtrend.
Thank you for reading this idea! Hope it's been useful to you and some of us will turn it into profitable.
Please hit the Like button if you consider this idea helpful and follow us for supporting. Also share your own analyzes and thoughts in comments below.
Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts.
The information given is not a Financial Advise.
