Link has been struggling in a subrange but has painted many bullish patterns that suggested a rise to higher levels. One of which is a diamond bottom reversal pattern that I covered previously. It also broke out on the upside of a bearish descending triangle and currently retesting it and the support of a rising channel.
the RSI has been in an uptrend while price is stagnant forming many bullish divergences.
The current price point should lead to an upward reversal. If price breaks down the supports of the patterns, we will see further downside.
I am not of the opinion that the market will crash catastrophically at the moment as many pundits are predicting, if this should happen it will be in September which has been a consistently red month in the cryptoverse.
the RSI has been in an uptrend while price is stagnant forming many bullish divergences.
The current price point should lead to an upward reversal. If price breaks down the supports of the patterns, we will see further downside.
I am not of the opinion that the market will crash catastrophically at the moment as many pundits are predicting, if this should happen it will be in September which has been a consistently red month in the cryptoverse.
Comment:
good bounce.
Comment:
First target range resistance and falling channel resistance reached.
