Technical Analysis and Outlook
While Bitcoin proceeds to be moderately stable opposed to its peers, and the short-term Mean Res $3682 is somewhat close to the current price level, the fact is that latest Ripple’s coin rally was not quite enough to push the crypto-coin even above that level: this is a red flag for bulls here.
The recent break-down is still being unimpaired, a movement towards the Key Sup $3191 and Inner Coin Dip $3120levels is very much likely, barring a move above the $3682 Mean Res level, continues to reflect the negative long-term trend bearing technical setups - this being a very much dominant factor. (For more Market Commentary, please visit the TradingSig_dot_com).
While Bitcoin proceeds to be moderately stable opposed to its peers, and the short-term Mean Res $3682 is somewhat close to the current price level, the fact is that latest Ripple’s coin rally was not quite enough to push the crypto-coin even above that level: this is a red flag for bulls here.
The recent break-down is still being unimpaired, a movement towards the Key Sup $3191 and Inner Coin Dip $3120levels is very much likely, barring a move above the $3682 Mean Res level, continues to reflect the negative long-term trend bearing technical setups - this being a very much dominant factor. (For more Market Commentary, please visit the TradingSig_dot_com).