Recent dumping's reasons maybe
-Major reason is causing by an unstable "Stable Coin", the fund panic swift to stable heaven coin "Bitcoin", and then swift from "Bitcoin" to another Stable Coin.
-Plus some Long position taking profit from the market.
Thanks for the drop, and we go Long while this dumping while it testing the SMA golden cross. :)
When we draw Log EMA line,
--the dip breakdown 200 Days Log EMA(Purple Color Cross Line)
--the dip just kiss 100 Days Log EMA(Orange Color Cross Line), then rebound.
--3 times buying interested push price standing back above 50 days Log EMA(Black Line) within 2 days after panic dumping.
Market Development might be as following:
Test 5 D+200 D LEMA(Resistance),
and maybe it will be unable to stand above of them for the first time test, then drop to test 50 D LEMA.
Scenario 1: drop to test 50 days Log EMA and getting support again, then starting rebound back to bullish trend.
Scenario 2: dumping to test 100 days Log EMA, and getting support, then starting rebound back to bullish trend. (The Guess Black Line)
Scenario 3: dumping to breakdown 100 days Log EMA, maybe getting support at the dash red line, then starting rebound the bullish trend. (The Guess Red Line)
We are Ready to buy more if it dumping price down again and if the market development meet above-mentioned scenario. :)
-Major reason is causing by an unstable "Stable Coin", the fund panic swift to stable heaven coin "Bitcoin", and then swift from "Bitcoin" to another Stable Coin.
-Plus some Long position taking profit from the market.
Thanks for the drop, and we go Long while this dumping while it testing the SMA golden cross. :)
When we draw Log EMA line,
--the dip breakdown 200 Days Log EMA(Purple Color Cross Line)
--the dip just kiss 100 Days Log EMA(Orange Color Cross Line), then rebound.
--3 times buying interested push price standing back above 50 days Log EMA(Black Line) within 2 days after panic dumping.
Market Development might be as following:
Test 5 D+200 D LEMA(Resistance),
and maybe it will be unable to stand above of them for the first time test, then drop to test 50 D LEMA.
Scenario 1: drop to test 50 days Log EMA and getting support again, then starting rebound back to bullish trend.
Scenario 2: dumping to test 100 days Log EMA, and getting support, then starting rebound back to bullish trend. (The Guess Black Line)
Scenario 3: dumping to breakdown 100 days Log EMA, maybe getting support at the dash red line, then starting rebound the bullish trend. (The Guess Red Line)
We are Ready to buy more if it dumping price down again and if the market development meet above-mentioned scenario. :)
Comment:
Comment:
Comment:
It is following our Guess Scenario 2 forming a double bottom...
Will it dump again?
....it is much appreciated and welcome to dump again. :)
or Can it breakup the current Key resistance (200 day Log EMA) this time?
Let's observe the market development, next.
Will it dump again?
....it is much appreciated and welcome to dump again. :)
or Can it breakup the current Key resistance (200 day Log EMA) this time?
Let's observe the market development, next.
Comment:
We profit taking for our Hit and Run Long Position.
Comment:
Possible Development Scenario:
Scenario 1 The Guess Red Line:
Backtest for cooldown overheated up trend. Then up to retest the Key Resistance Zone, a small correction down, and then breakup the down trend line.
Scenario 2 The Blue Line:
Double test the key Resistance Zone, and it might be rejected, and then go down to test recent low. If it is getting support again. Then forming a rev-H&S pattern, then breakup the key down trend line.
Scenario 1 The Guess Red Line:
Backtest for cooldown overheated up trend. Then up to retest the Key Resistance Zone, a small correction down, and then breakup the down trend line.
Scenario 2 The Blue Line:
Double test the key Resistance Zone, and it might be rejected, and then go down to test recent low. If it is getting support again. Then forming a rev-H&S pattern, then breakup the key down trend line.
Comment:
Look like Scenario 1 (RED) development.
Comment:
Happy Range Trading....
Comment:
Our original Guess Potential Development Scenario 1 (RED Line)
It went to test the support around 156(twice), and starting the uptrend development. Now it kiss the 5th time of the key downtrend line. Looks like the downtrend line could be broken-through. (Upper side of the Red Channel)
