Firstly, we see in this chart that buyer pressure is much higher than selling pressure at this juncture. We are in a critical space where shorts should have easily broken the barrier but they barely grazed it. As you can see RSI
is holding strong and stable through this "dump." Volume
is a bit low, but that's how it is before the surge of buyers see money pouring into longs.I believe today we will break that triangle and follow in the proposed up-channel. There simply is nowhere else to go but up.
on Polo (at least) shows buyers holding strong till at least 0.0240, whereas shorts have a weaker position at 0.0270. I think the volume
is like roughly 1750BTC:1250BTC. This is very telling because it is almost indicative of artificial sells to drive prices to a "good value" spot. This leads me to believe they too are bullish
. As a result, I believe a good value position is right now. I personally will be taking a position.