Bearish Disposition
Due to crypto being high volatility, I have mapped out a couple patterns price action is likely to follow (opinion), but the sentiment is the same on both triangles.
What we are looking at here is price being squashed down to a point with bearish tones on the break.
-Declining volume
-Declining rsi, however, let's note that at time of publishing it is testing resistance
I am usually a neutral kind of guy, only looking for patterns and waiting for breakout confirmations to trade. That said, my feeling right now is that we are due for some more downside based on price action and volume trends.
I will be waiting to trade until I see an oversold condition, or, a trend breakout to the upside on price, volume, and rsi. Let's remember these markets sometimes just have minds of their own, and we have been in a long bear market that is still the current sentiment people are embracing. Much caution. Such risk.
What we are looking at here is price being squashed down to a point with bearish tones on the break.
-Declining volume
-Declining rsi, however, let's note that at time of publishing it is testing resistance
I am usually a neutral kind of guy, only looking for patterns and waiting for breakout confirmations to trade. That said, my feeling right now is that we are due for some more downside based on price action and volume trends.
I will be waiting to trade until I see an oversold condition, or, a trend breakout to the upside on price, volume, and rsi. Let's remember these markets sometimes just have minds of their own, and we have been in a long bear market that is still the current sentiment people are embracing. Much caution. Such risk.
註釋
looks like we are breaking support and a longer term trend line. let's see where this goes.
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