Hello to all traders
The macro economy still doesn't look good, but the data is very clear.
In the monthly update, we see weak candles that we expect to experience further decline if it closes below $19,689.
On the weekly time frame, look at the 13 Jun 22 candlestick, which ended the wave with an 8-candle correction, indicating a strong downtrend.
On the daily time frame, we have the descending channel and the price is on the daily support, and the positive divergence makes everyone think of a buy position, and traders draw a W pattern in their mind, but the effect of the positive divergence seems to end with short-term volatility. And with support breaking, expect lower numbers.
The macro economy still doesn't look good, but the data is very clear.
In the monthly update, we see weak candles that we expect to experience further decline if it closes below $19,689.
On the weekly time frame, look at the 13 Jun 22 candlestick, which ended the wave with an 8-candle correction, indicating a strong downtrend.
On the daily time frame, we have the descending channel and the price is on the daily support, and the positive divergence makes everyone think of a buy position, and traders draw a W pattern in their mind, but the effect of the positive divergence seems to end with short-term volatility. And with support breaking, expect lower numbers.