Last several months were brutal already, making us a bit sceptic about further lows as how long can this go ?!
But also a big chunk of the market is really focused on catching really low prices, accepting the way we are going. That would be too easy. Here we landed on great support and we are close to the top of the descending channel. It looks like a breakout to the upside could be possible, having in mind RSI got totally oversold - and we could have a small run up to retest a strong resistance, before retesting the bottom of the bear market.
Stay safe.
But also a big chunk of the market is really focused on catching really low prices, accepting the way we are going. That would be too easy. Here we landed on great support and we are close to the top of the descending channel. It looks like a breakout to the upside could be possible, having in mind RSI got totally oversold - and we could have a small run up to retest a strong resistance, before retesting the bottom of the bear market.
Stay safe.