The price has long tried to slump under the red support, resistance now, and it finally could. The forming triangle is very familiar to everyone who has traded reversing markets. A minor breakout above the resistance is possible but even though the price will most probably continue its bear movement. The weakening RSI and MAs additionally support that idea. Even so, the crypto world is so new and its movements surprises even the best traders. Be aware of minor breakouts and if it falls under the support line of the triangle, feel good to short. Do not forget that this is just one opinion, do the analysis yourself and check what the top rounders do. Good Luck everyone!
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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.