Crypto market- Bye-Bye happiness?
All December was one of consolidation and, in my opinion, distribution, not accumulation, in the Crypto market.
Since the 4th of December's low around 2T, we have a rebound of around 20% but looks more like a dead cat's rally than an impulsive buying move.
Technically speaking, 2.4 zone is resistance and if we look at the daily posted chart we can see that rallies above that zone are sold and we have wicks on candles suggesting indecision and a bearish bias.
Of course, these days the market's liquidity is very thin, but a break under 2.3 would suggest an important lower top and call for further losses.
The first level of support is at 2T recent low, but I wouldn't be surprised if the market will fall to 1.75.
At this moment, I don't own any coins, and my speculative interests are in selling.
Since the 4th of December's low around 2T, we have a rebound of around 20% but looks more like a dead cat's rally than an impulsive buying move.
Technically speaking, 2.4 zone is resistance and if we look at the daily posted chart we can see that rallies above that zone are sold and we have wicks on candles suggesting indecision and a bearish bias.
Of course, these days the market's liquidity is very thin, but a break under 2.3 would suggest an important lower top and call for further losses.
The first level of support is at 2T recent low, but I wouldn't be surprised if the market will fall to 1.75.
At this moment, I don't own any coins, and my speculative interests are in selling.
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