If we closely look at the chart, we can notice that the price has turned bearish and it is dropping nicely, while forming Lower Lows and Lower Highs. Similar to the Bitcoin chart, the price is currently stuck in a sideways-moving rectangular range. If the lower boundary of the range gets broken, then we will be expecting the price to keep dropping till the area identified on the chart. On the other hand, if the price breaks and retests the upper boundary of the range, we will be looking forward to opening Buy positions and aiming for nice profits.
At the moment, the price is looking bearish. Therefore, monitoring the market for SELL positions is a more logical thing to do. Nevertheless, we are gonna be reactive and not predictive.
Happy trading, family!
At the moment, the price is looking bearish. Therefore, monitoring the market for SELL positions is a more logical thing to do. Nevertheless, we are gonna be reactive and not predictive.
Happy trading, family!