We are still under the 200ma which is a bad thing mid-term, but we have already form an ascending triangle right under a resistance line which is established at 1st of April.
It's not clear enough but seems that we went through, and we now retestng the resistance line which is established from all the previous weak breakouts at 9000usd(21-Mar-18), 7700usd(04-Jun-18) and now at 6400usd!
From the 3 previous deeps, we do know that we are in very very welcomed prices for the bulls, and most probable they are ready to liquidate any short in this price area.
It's within reason to expect a bull move soon, and to reach our first resistance area at around 7100usd(triangle projection plus resistance line)
This is not a financial advice! These markets are really aggressive, you can loose or your capital!
It's not clear enough but seems that we went through, and we now retestng the resistance line which is established from all the previous weak breakouts at 9000usd(21-Mar-18), 7700usd(04-Jun-18) and now at 6400usd!
From the 3 previous deeps, we do know that we are in very very welcomed prices for the bulls, and most probable they are ready to liquidate any short in this price area.
It's within reason to expect a bull move soon, and to reach our first resistance area at around 7100usd(triangle projection plus resistance line)
This is not a financial advice! These markets are really aggressive, you can loose or your capital!
Comment:
haha! its so funny i can comment in this analysis after so long time while being in the same price levels.
Buy crypto they said, the market goes so fast they said :P
Buy crypto they said, the market goes so fast they said :P
We have a support line at 6600$ but we are struggling hard to go through our resistance at 6770$.
If this resistance holds, we will continue forming a Head & Shoulders pattern.
We have to adjust our stop losses accordingly.
Screenshot:
snag.gy/63IVQt.jpg