Price is more than likely going to stay within this price range from this point forward as even though the monthly timeframe is producing a bearish sentiment the smaller timeframes such as the weekly daily and four hour timeframe are receiving price action from buyers as it is being propped up around the high 70s or 79$ range. Ive got a daily to the left and four hour to the right currently price is receiving buying volume as shown to the bottom left at these prices which in turn has produced a possible reversal long entry to the upside as we reach a range in price which it bounced back up for a 5% gain based on previous times it had hit this price target.
RSI indicator to the right is just below 50, weve got the macd and signal line crossing over each other, the bullish histogram (represented in purple rather than green) is in bold good sign, and the selling was diminishing as should in the smaller histogram ( in red)
RSI indicator to the right is just below 50, weve got the macd and signal line crossing over each other, the bullish histogram (represented in purple rather than green) is in bold good sign, and the selling was diminishing as should in the smaller histogram ( in red)
infamousnicone