My Position : Long
Target : 6400 - 6450 (Yellow Box)
100 day MA (white line) is acting as a great support and resistance since last few months.
When the price was battling at 6800 range, the 100 day MA was acting as a great support.
We broke that support recently in the last dump.
I presume we might see a small pump till 6450 - 6450 range (Yellow Box) which coincides with the 100 day.
If we manage to break above the 100 day moving average then we might retest 6700 -6800 again ( less likely scenario)
And if the 100 day MA acts as a resistance again the we will have another leg down.
Lets see how it plays.
Comments Welcome.
Regards,
Cryptosync
Target : 6400 - 6450 (Yellow Box)
100 day MA (white line) is acting as a great support and resistance since last few months.
When the price was battling at 6800 range, the 100 day MA was acting as a great support.
We broke that support recently in the last dump.
I presume we might see a small pump till 6450 - 6450 range (Yellow Box) which coincides with the 100 day.
If we manage to break above the 100 day moving average then we might retest 6700 -6800 again ( less likely scenario)
And if the 100 day MA acts as a resistance again the we will have another leg down.
Lets see how it plays.
Comments Welcome.
Regards,
Cryptosync