Hey guys, I'm still kind of new to the space, but have been really working hard on my Technical Analysis. Please leave a like, and let me know your opinions down below on what you think, or what your analysis says. Or feel free to educate me. Cheers!
Critical times, calls for critical measures.
I hope you have all been safe during this pandemic.
Analysis:
Ever since the huge fall and massive sellout on all cryptocurrencies on March 12, it had seemed that we had found a super strong, valid support level.
From there, we have been seemingly travelling and forming new market structure. HHs, LHs. From here, its all been looking positive, however, hold your horses there silly investors. DID YOU FORGET WE ARE IN AN OVERALL BEARISH MARKET??
"You fell for my trap", the Bear said to the Bull.
"Huh?", the bull responded frantically.
As you can see, a key level or resistance was found along the 7400 mark. Price could not push past this point, hence confirming its validity. Once pushed through a tight corner of the bear flag, it broke downwards. April 19, we see an attempt to once again push through this level of resistance. However, this suckers rally failed, and we retested that significant level.
Here we go, the beginning of the fall... to previous structure. Slight retracements on fibs playing out currently, nonetheless, we will meet that bottom soon. See you soon support.
P.S: Hope everyone is safe and has been social distancing, look after yourself and your loved ones.
Critical times, calls for critical measures.
I hope you have all been safe during this pandemic.
Analysis:
Ever since the huge fall and massive sellout on all cryptocurrencies on March 12, it had seemed that we had found a super strong, valid support level.
From there, we have been seemingly travelling and forming new market structure. HHs, LHs. From here, its all been looking positive, however, hold your horses there silly investors. DID YOU FORGET WE ARE IN AN OVERALL BEARISH MARKET??
"You fell for my trap", the Bear said to the Bull.
"Huh?", the bull responded frantically.
As you can see, a key level or resistance was found along the 7400 mark. Price could not push past this point, hence confirming its validity. Once pushed through a tight corner of the bear flag, it broke downwards. April 19, we see an attempt to once again push through this level of resistance. However, this suckers rally failed, and we retested that significant level.
Here we go, the beginning of the fall... to previous structure. Slight retracements on fibs playing out currently, nonetheless, we will meet that bottom soon. See you soon support.
P.S: Hope everyone is safe and has been social distancing, look after yourself and your loved ones.
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.