Daily chart. Very easy to see what's going on here. Working on breaking that downtrend (white line), when this breaks watch for a successful back test for a buy signal. MACD needs a bit of work still but would start to curl with a few good days of buying. 50 day MA is currently at $3.95 if price were to touch this line I think this would be a good area to buy/add. If the 50 day MA fails then bottom of the shape structure is my next add/buy.
@watchtrend, Might get some $3.40 's. I have no position yet. Waiting for trendline to break.
shipittojay
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@Bird_Dog, seem like u're correct. 3.40 then bounce back, right ?
Bird_Dog
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@shipittojay, Yes today's price hit the bottom of that trend around $3.40 and got a bit of a bounce. I am still a bit worried about the selling pressure in the overall crypto space. Good chart above by watchtrend. If selling continues my next support area is around the 100 day MA which is $2.70 ish right now. This spot also has a nice volume shelf, lots of buyers there from before so i think it would be a good spot to look for support from Bulls. I still think the safe play would be to wait until that trend line gets broken and the 10 day MA on the daily chart is reclaimed. Good Luck.