Lower highs and lower lows show bears in full control in this crypto. A well defined downward sloping line connecting recent highs is the line to watch (red line). There are hints however that this market will show a stronger move;
1) A descending triangle
2) RSI still diverging positively
To keep it simple; breakouts out of the triangle set the following goals;
Upside breakout (move over the red line at 0.0338 currently); 0.0540
Downside breakout (move below 0.0310); 0.0110
Ofcourse, the latter would not be a wise trade, one should focus on the first scenario. A break below 0.0310 implies no position (always watch the close).
Just keep track of the red line.
1) A descending triangle
2) RSI still diverging positively
To keep it simple; breakouts out of the triangle set the following goals;
Upside breakout (move over the red line at 0.0338 currently); 0.0540
Downside breakout (move below 0.0310); 0.0110
Ofcourse, the latter would not be a wise trade, one should focus on the first scenario. A break below 0.0310 implies no position (always watch the close).
Just keep track of the red line.
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.
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.