Why bearish? A few reasons:
1) Price action prints a lower high.
2) Price action is in a descending channel.
3) RSI support was broken around mid-March and now appears to be acting as resistance.
4) The monthly chart below printed a very convincing Gravestone DOJI candle.
5) Lastly, since being long, price action has returned a massive 4500% increase.
A sell from $18 is great
Target? $6.10
1) Price action prints a lower high.
2) Price action is in a descending channel.
3) RSI support was broken around mid-March and now appears to be acting as resistance.
4) The monthly chart below printed a very convincing Gravestone DOJI candle.
5) Lastly, since being long, price action has returned a massive 4500% increase.
A sell from $18 is great
Target? $6.10
Trade active
Trade closed: target reached
Trade active
Trade active
Be careful if you're still holding hoping for higher highs. RSI dips below 50 with momentum.2nd target: $2.70
Trade active
Target reached again. If you're still bullish following a drop from $18, then you need the candle on the 2-day chart below to close above the support line. Failure to do so will result in a move to the 2nd target, $2.70.Trade active
The power of that monthly gravestone DOJI continues to influence. $14 must seem like a distance memory by now!Look for support at the orange lines, $2.50 and $1.15
Trade active
A relief rally to $5 to 5.50 area may occur, however the trend remains, lower highs lower lows.Trade closed: target reached
All targets met. Ka-boom.Now is the moment to go long.
BTC
bc1q2eckdzh0q8vsd7swcc8et6ze7s99khhxyl7zwy
Weblink: patreon.com/withoutworries
Allow 3-6 months on ideas. Not investment advice. DYOR
bc1q2eckdzh0q8vsd7swcc8et6ze7s99khhxyl7zwy
Weblink: patreon.com/withoutworries
Allow 3-6 months on ideas. Not investment advice. DYOR
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
BTC
bc1q2eckdzh0q8vsd7swcc8et6ze7s99khhxyl7zwy
Weblink: patreon.com/withoutworries
Allow 3-6 months on ideas. Not investment advice. DYOR
bc1q2eckdzh0q8vsd7swcc8et6ze7s99khhxyl7zwy
Weblink: patreon.com/withoutworries
Allow 3-6 months on ideas. Not investment advice. DYOR
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.