- Only been trading on Bittrex for a few days and falling ever since. Not helped by the over mood in Crypto.
- The recent bounce on the 30 minute coincides with the mood reversal in crypto. Are we at the bottom?
- I have drawn some key levels in blue which are supported by the at those levels.
- The point of control ( POC ) is shown in red. Price will look to return to this level however it first has to get through the 0.00003512 level which also has strong .
- Price is back with the 50 but it looks to be acting as a on the last two bars.
Overall it looks fairly but I will monitor for a while to see how it plays out before putting in buy orders. Likely near-term is price will drop to the 0.00002949 and then recover. This could be a good place to buy if is respects that level.
"Luck is what happens when preparation meets opportunity"
This is not investment advice. #DYOR.
Comments and suggestions always welcome below.
I have indicated the support and resistance lines on the chart below. I will keep an eye on if/when price starts to challenge this channel....until then expect further downside.
- RSI is oversold
- I have added the fib levels from the start of the downtrend to the current bottom. If this is the bottom then these levels will provide some guides for the targets.
- When 4HR candle closes above falling wedge and price bounces from the 50 EMA (1HR)