It is very important to understand that the price can go in either direction. It all boils down to what market makers want.
This one is a coin toss. Heads, and the price goes up. Tails, and the price goes down.
It is true that the price has started an uptrend since $4.33.
However, the price remains in a downtrend parallel channel that stems from the peak at $26.55.
The price has met resistance 3 times and has failed to breakout of this channel. However, contrary to popular belief, the upper resistance line of the parallel channel weakens each time the price touches it. A 4th touch would probably produce a breakout to the upside.
If the price breaks out to the upside, then it will move towards $40. Otherwise, weak hands will dump their coins on the market and the price will plummet towards $3.33.
This one is a coin toss. Heads, and the price goes up. Tails, and the price goes down.
It is true that the price has started an uptrend since $4.33.
However, the price remains in a downtrend parallel channel that stems from the peak at $26.55.
The price has met resistance 3 times and has failed to breakout of this channel. However, contrary to popular belief, the upper resistance line of the parallel channel weakens each time the price touches it. A 4th touch would probably produce a breakout to the upside.
If the price breaks out to the upside, then it will move towards $40. Otherwise, weak hands will dump their coins on the market and the price will plummet towards $3.33.
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