Going into the week, I will be looking for the 60 cent level. As it is a crucial level for the bulls. Unless we see a strong reversal from that point, I anticipate a break of the support, and the main target would be around 56 cents. This scenario is backed by a bearish funding rate + the lack of buying in this area represented by CVD.
My other indicators suggest:
Order-Book: Bearish
Funding-Rate: Bearish
Open-Interest: Bearish
Long/Short Ratio: Bearish
CVD: Bearish
I hope you like this analysis and give a thumb for more content.
My other indicators suggest:
Order-Book: Bearish
Funding-Rate: Bearish
Open-Interest: Bearish
Long/Short Ratio: Bearish
CVD: Bearish
I hope you like this analysis and give a thumb for more content.
Comment:
First Target reached. Let's see what happens at this crucial level.
Comment:
Slight bounce from the 60 cent level with little volume. I expect a break of the 60 cent level with TP2 as the next crucial level to look for.
Comment:
TP2 reached - I expect to see further downside this week.