Volumes are decreasing and price is narrowing look like a setup for a rising wedge trade.
No breakout yet but I will keep a eye on it.
The most probable situation is a breakdown of course. Then continuation of the down trend.
As time goes by, I will keep you updated on the evolution of the coin, so make sure to follow me on Tradingview
Disclaimer: This is not financial advice as I’m not a financial adviser.
This is just my knowledge on what can be said and done from the chart.
Due to the volatile nature of the market, everything can change on a day to day basis.
Everyone is wise to manage their risk properly when considering any trading decision or activities.
No breakout yet but I will keep a eye on it.
The most probable situation is a breakdown of course. Then continuation of the down trend.
As time goes by, I will keep you updated on the evolution of the coin, so make sure to follow me on Tradingview
Disclaimer: This is not financial advice as I’m not a financial adviser.
This is just my knowledge on what can be said and done from the chart.
Due to the volatile nature of the market, everything can change on a day to day basis.
Everyone is wise to manage their risk properly when considering any trading decision or activities.
look like a sell to me.
With today daily close we just confirmed an daily downtrend (lower highs and lower lows).
the price is still above the 20-day EMA which can provide support but mid term I expect further downside. Especially with gold looking this weak.