Price is testing EMA 100 support (strong support)
Volume is very important to consolidate every movement and filter fake moves of the real trending ones.
Volume is very low compared to the price action
Advice: Good point to go long between this point: ~7000$ to ~6800$
High chance of pivoting @~7000$ due to:
Lower volume every day day, wich means that the vendor force is decreasing.
EMA 100 is the main support.
EMA 7 is going down to crash with EMA 100.
High odds to pivot at 7000$ (EMA 100)
Good idea to open long at ~7000$
A short explanation to this movement:
A little short opened now expecting to cross the very close fibonacci support.
At around @7200$ there is a fibonacci support line. (61%)
Probably the price will test this area again in another dropping movement, very similar than the previous one on 23/10/2019.
I expect the price to go under 7000$ because of the lack of...
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The reason to make this move is because, IMO of course there is no reason more than a little whale selling and causing this little flashcrash. The most logic movement now, is to buy this "dip". Flashcrashes never determine longterm trends.
By the way, since the begioning of 2018, the price has decreased...
