Weekly has bounced off lows and wants to start curling up. is painting a picture that shows this may be another week of sideways. Weekly levels looking very good.
We are due to a retest of the previous high shown in the chart. Yearly lows have held and there is no reason to think they will not hold. Longs are approaching all time lows on finnex because people dont want to long with the premiums.
As premiums drops, and market starts recovering from the recent FUD, we should start seeing a move upwards which will signify our test of strength.
On the flip side, there is a chance, we will break down much more. That scenario is ugly and quite bloody. I have some lines to show you where it may end up. However it will cause a market wide capitualtion.