Crucial moment for the crypto market, and small wedge break.
Positive:
small wedge break in a dangerous place, but with all the fear and regular long/short ratio it could bring us back to 53k, which on my view is the strongest resistance right now.
A v shape recovery is very hard to occur, but if it happens this is the moment, when everyone is in fear.
Negative:
We can´t break 49k, and that is where my stop loss is, since we are under the 21 weekly
is not the time to go for long positions. Even though I did not sell my holdings, loosing 49k now for me is a huge sign of continuation of the downtrend and could bring the price back to the 40k area.
Also, Dominance is key right now, I´ll be posting an analysis on it right after this one. Have a good one guys, feel free to leave your comments and share your thoughts.
small wedge break in a dangerous place, but with all the fear and regular long/short ratio it could bring us back to 53k, which on my view is the strongest resistance right now.
A v shape recovery is very hard to occur, but if it happens this is the moment, when everyone is in fear.
Negative:
We can´t break 49k, and that is where my stop loss is, since we are under the 21 weekly
is not the time to go for long positions. Even though I did not sell my holdings, loosing 49k now for me is a huge sign of continuation of the downtrend and could bring the price back to the 40k area.
Also, Dominance is key right now, I´ll be posting an analysis on it right after this one. Have a good one guys, feel free to leave your comments and share your thoughts.
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