erikpena

erikpena Updated 

The previous bearish trend line had proven to be strong for so long, but know we are seeing a very nice sideways consolidation. It's now just bouncing off two close levels of support and resistance. I really think once it passes the .000077 mark, and retests it, we'll be seeing some nice spikes passing .00010 before taking off.

erikpena Updated 

We're hovering above the .000068 zone, This one seems to be a stronger support. It's been tested a few times. Now I am looking for the candle sticks breaking through the trend line. There were a few good moves but I am looking for a strong bull trend and not just the little pulls. Maybe it'll breaks that above trend line, we'll probably see some mayor moves.

erikpena Updated 

Been watching for the last few days and it doesn't seem to confirm a trend/ reversal. It's been quiet confusing lately and buyers and sellers can't seem to come to an agreement just yet. But could it be that this is the day the market decides to take a hike? Bulls have taken enough of a break, lets see if they take control now. Sitting on my hands for now....

erikpena

Looking at this on a 30 min chart.. It looks that at this point it is respecting the support line. Being optimistic on the market making a turn at this point. Nonetheless if it breaks below the support, we're looking at the next support line around the 1.60-1.65. I'd appreciate any further analysis and inputs. Thanks