Morning Traders,
As we can see we have at this time downtrend. 0 is the highest high, 2 is lower high.
There is also formation TL4C. If the price breakup TL1 and candlestick will close above it, then we will have buy signal.
There is resistance level 62000.0. Price just passed 50% of the last swing let’s see if will hold high move.
As a support 61000 level should work. TL2 work as support as well, if the price decided to drop then signal will be when candlestick will close bellow TL2.
But be careful, price may return do TL and then go down.
Momentum is moving sideways and is not strong enough to push price higher.
Let’s wait and see what will happen next.
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cheers,
Jim
As we can see we have at this time downtrend. 0 is the highest high, 2 is lower high.
There is also formation TL4C. If the price breakup TL1 and candlestick will close above it, then we will have buy signal.
There is resistance level 62000.0. Price just passed 50% of the last swing let’s see if will hold high move.
As a support 61000 level should work. TL2 work as support as well, if the price decided to drop then signal will be when candlestick will close bellow TL2.
But be careful, price may return do TL and then go down.
Momentum is moving sideways and is not strong enough to push price higher.
Let’s wait and see what will happen next.
Please click “like” button” for this analysis. This is very important for me. I will see appreciation for free analysis.
cheers,
Jim
Point 4 should be around 64034.00
cheers,
Jim