Long
CRYPTO INDEX ANALYSIS!
After an aggressive bullish rally the CIX needs a consolidation. We recognize that the ascending trend line is now broken and its probable that the chart will fall to its previous high which was a resistance and now becomes a support for the chart.
Meanwhile the Fibonacci 0.5 line is considered to be the next supporting force for the chart which is matched to the previous high and the RSI indicator is in the "over-sold" area. These factors combine means that the end of the bearish trend is near.
But the tweets from Elon musk and other crypto magnates should play a crucial role in this volatile time of the market!
Meanwhile the Fibonacci 0.5 line is considered to be the next supporting force for the chart which is matched to the previous high and the RSI indicator is in the "over-sold" area. These factors combine means that the end of the bearish trend is near.
But the tweets from Elon musk and other crypto magnates should play a crucial role in this volatile time of the market!
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