The situation on the has further forecast based on the market momentum analysis.
In the near future two scenarios will likely take place:
1. If today's candle closes below the level of 10180 we will expect further price movement to the level of 9150. If then the price fixes below this level, then it is possible that the price will move to the zone of formation of the momentum balance, which began on December 18 last year. This zone is due to the price range between 7800 and 8100.
2. If the price breaks the level of 10180 and consolidates itself above the point 10350, then we can expect further movement toward the goal of 10800
In the short term, we can also assume the movement as follows. After the price fell and corrected upwards, it tested the level of 10130, and so we expect two scenarios:
1. If the price consolidates below 10130, it will most likely move to the level of 9400.
2. When it stays steady above the level 10190 we can expect it to move up the point of 10900.
We wish you all success and good trading. Watch the cryptocurrency market with us!
* All KYRREX publications are made solely for informational and / or marketing purposes and should not be construed as economic, financial, investment advice, recommendations, or trading ideas. KYRREX does not take into account goals and situations of a particular trader in its analytical publications and is not responsible for any loss as a result of investment based on published analytical materials.
Here we are closing our open position, fixing the profit and waiting for further movement.
If the price consolidates below 9150, we look for an entry point to open new sell orders and move to a range of 7800 - 8100.
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