So my previous prediction may still hold true if we keep trading in the purple channel created a few days ago, Bottom seems to be strong support as long as nothing major happens in the coming days.
Red lines (descending Triangle) were a short term prediction but the bottom trend line looks like its acting as short term support going forward.
Now if the bottom purple trend line breaks, its seems we will drop to the red line titled next low, as the coin has traded around there A LOT when there was uncertainty in the market, although this time around this pandemic is affecting all markets, so it could very well be worse.
Remember not to risk too much during these trying times and remember kids, this isn't financial advice lol.
Red lines (descending Triangle) were a short term prediction but the bottom trend line looks like its acting as short term support going forward.
Now if the bottom purple trend line breaks, its seems we will drop to the red line titled next low, as the coin has traded around there A LOT when there was uncertainty in the market, although this time around this pandemic is affecting all markets, so it could very well be worse.
Remember not to risk too much during these trying times and remember kids, this isn't financial advice lol.
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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.
Related publications
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.