Based on the chart price have dropped two times and a support area have broken. This can be a good sign of increasing supply at this area and the weakness on buyers is observable at this area. Based on the change of polarity of support and resistance levels, the previous support now acts as a resistance area and a rejection is about to happeining.
So based on this scenario I prefer to be seller at this area and it can provide a good risk reward for bearish traders at this zone.
Note: First I have to say I'm not a Crypto trader (I work as a Forex trader) but just saw this opportunity and want it to share with other traders at this field.
Please take all risk management rules into consideration before opening any position on the market!
Good luck!
So based on this scenario I prefer to be seller at this area and it can provide a good risk reward for bearish traders at this zone.
Note: First I have to say I'm not a Crypto trader (I work as a Forex trader) but just saw this opportunity and want it to share with other traders at this field.
Please take all risk management rules into consideration before opening any position on the market!
Good luck!