Volumes are decreasing and price is narrowing look like a setup for a rising wedge trade.
No breakout yet but I will keep a eye on it.
The most probable situation is a breakdown of course. Then continuation of the down trend.
As time goes by, I will keep you updated on the evolution of the coin, so make sure to follow me on Tradingview
Disclaimer: This is not financial advice as I’m not a financial adviser.
This is just my knowledge on what can be said and done from the chart.
Due to the volatile nature of the market, everything can change on a day to day basis.
Everyone is wise to manage their risk properly when considering any trading decision or activities.
No breakout yet but I will keep a eye on it.
The most probable situation is a breakdown of course. Then continuation of the down trend.
As time goes by, I will keep you updated on the evolution of the coin, so make sure to follow me on Tradingview
Disclaimer: This is not financial advice as I’m not a financial adviser.
This is just my knowledge on what can be said and done from the chart.
Due to the volatile nature of the market, everything can change on a day to day basis.
Everyone is wise to manage their risk properly when considering any trading decision or activities.
Note
look like a sell to me.
With today daily close we just confirmed an daily downtrend (lower highs and lower lows).
the price is still above the 20-day EMA which can provide support but mid term I expect further downside. Especially with gold looking this weak.
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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.