Implications and Outlook
1. The trading volumes and volatility had been trending much lower in the crypto currency market in recent trading sessions, with many of the critical coins remaining dangerously in the vicinity of their most current low levels. Many of the oversold crypto coins encountered better 'Dead Cat Bounces': Ethereum, Ethereum Classic, Litecoin, Dash, and Monero.
The earlier more robust cryptos had been underperforming, and also this bearish rotator of suggests even further challenges, at least short to intermediate-term, and a retest of the Key Resistance levels has already been underway.
2. Coin sentiment has confirmed the value of the inner-short term Coin Dip at $5820; however, price action has created the value of the intermediate-term Mean Support at $5850, which will be revisited in the interim, while Key Resistance at $6765 is being used as an intermediate target.
3. The violation of inner Coin Dip price $5820 and Mean Support $5850 will undoubtedly bring serious of the intermediate to short-term bearish implications, having downside targets to Yearly Low of $5777 and Key Support $5525.
4. Current Coin Strategy Bias: Bullish 60 / Bearish 40
1. The trading volumes and volatility had been trending much lower in the crypto currency market in recent trading sessions, with many of the critical coins remaining dangerously in the vicinity of their most current low levels. Many of the oversold crypto coins encountered better 'Dead Cat Bounces': Ethereum, Ethereum Classic, Litecoin, Dash, and Monero.
The earlier more robust cryptos had been underperforming, and also this bearish rotator of suggests even further challenges, at least short to intermediate-term, and a retest of the Key Resistance levels has already been underway.
2. Coin sentiment has confirmed the value of the inner-short term Coin Dip at $5820; however, price action has created the value of the intermediate-term Mean Support at $5850, which will be revisited in the interim, while Key Resistance at $6765 is being used as an intermediate target.
3. The violation of inner Coin Dip price $5820 and Mean Support $5850 will undoubtedly bring serious of the intermediate to short-term bearish implications, having downside targets to Yearly Low of $5777 and Key Support $5525.
4. Current Coin Strategy Bias: Bullish 60 / Bearish 40