Hi traders and investors.
We are in a Descending Triangle since March 2019 with support line at $2. Bulls defended this area all 2019. IMO this level should provide further support, especially as it correspond to The Fibonacci Golden Ratio 61.8%. Resistance level is the green line drawn on the chart which also correspond to 55 EMA in weekly time frame.
But if we broke this supprt level, $1.9 - $2 and weekly candle close below, embrace for impact: we could go directly to $1.3 - $0.7
We are in a Descending Triangle since March 2019 with support line at $2. Bulls defended this area all 2019. IMO this level should provide further support, especially as it correspond to The Fibonacci Golden Ratio 61.8%. Resistance level is the green line drawn on the chart which also correspond to 55 EMA in weekly time frame.
But if we broke this supprt level, $1.9 - $2 and weekly candle close below, embrace for impact: we could go directly to $1.3 - $0.7
Comment:
***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***
Comment:
Brought at $1.3 - now I'm out at 1.61
Let's see how will play, planning to re-enter at 1.5
Let's see how will play, planning to re-enter at 1.5