Good Morning, Traders!
Civic has been in a constant bearish trend since the beginning of this year. The price has been consolidating between a strong resistance and strong support line since the middle of march. Looking at Ichimoku, it can be seen that the lines predict the price will continue in the bearish trend, and can be used as a resistance if the price reaches the red.
The recent trend line matched with the support line at 2708 create a small descending triangle starting at the beginning of march. If the price continues to consolidate, it will continue going down.
The recent trend line matched with the resistance line at 3161 create a strong resistance line to which the price remains under. Should the price break this line, it can be predicted that there will be a reversal in the long-term trend toward the 78.6% Fibonacci retracement.
Important Resistance Levels: 3161, 4026
Important Support levels: 2096, 2708
DISCLAIMER
WITH THIS CONTENT CRYPTOCURRENCY CAPITAL LLC OR ITS AFFILIATES DO NOT PROVIDE INVESTMENT, TAX, LEGAL OR ACCOUNTING ADVICE. THIS MATERIAL HAS BEEN PREPARED FOR INFORMATIONAL PURPOSES ONLY AND IS NOT INTENDED TO PROVIDE, AND SHOULD NOT BE RELIED ON FOR, TAX, LEGAL, ACCOUNTING OR INVESTMENT ADVICE. YOU SHOULD CONSULT YOUR OWN INVESTMENT, TAX, LEGAL AND ACCOUNTING ADVISORS BEFORE ENGAGING IN ANY TRANSACTION AT YOUR OWN RISK.
CONFLICTS OF INTEREST
GIVEN THE NATURE OF THE FUND’S BUSINESS MODEL, IT IS NOT POSSIBLE TO FORESEE AND PREVENT ALL POSSIBLE CONFLICTS OF INTEREST THAT MIGHT ARISE OVER THE LIFESPAN OF THE COMPANY. AT THE TIME MATERIAL WAS PUBLISHED, CRYPTOCURRENCY CAPITAL LLC, ITS AFFILIATES, OR ITS PRINCIPALS, MAY HOLD LONG/SHORT POSITIONS IN THIS PARTICULAR COIN.
Written by:
Hammad Fazlani
Research Analyst
Civic has been in a constant bearish trend since the beginning of this year. The price has been consolidating between a strong resistance and strong support line since the middle of march. Looking at Ichimoku, it can be seen that the lines predict the price will continue in the bearish trend, and can be used as a resistance if the price reaches the red.
The recent trend line matched with the support line at 2708 create a small descending triangle starting at the beginning of march. If the price continues to consolidate, it will continue going down.
The recent trend line matched with the resistance line at 3161 create a strong resistance line to which the price remains under. Should the price break this line, it can be predicted that there will be a reversal in the long-term trend toward the 78.6% Fibonacci retracement.
Important Resistance Levels: 3161, 4026
Important Support levels: 2096, 2708
DISCLAIMER
WITH THIS CONTENT CRYPTOCURRENCY CAPITAL LLC OR ITS AFFILIATES DO NOT PROVIDE INVESTMENT, TAX, LEGAL OR ACCOUNTING ADVICE. THIS MATERIAL HAS BEEN PREPARED FOR INFORMATIONAL PURPOSES ONLY AND IS NOT INTENDED TO PROVIDE, AND SHOULD NOT BE RELIED ON FOR, TAX, LEGAL, ACCOUNTING OR INVESTMENT ADVICE. YOU SHOULD CONSULT YOUR OWN INVESTMENT, TAX, LEGAL AND ACCOUNTING ADVISORS BEFORE ENGAGING IN ANY TRANSACTION AT YOUR OWN RISK.
CONFLICTS OF INTEREST
GIVEN THE NATURE OF THE FUND’S BUSINESS MODEL, IT IS NOT POSSIBLE TO FORESEE AND PREVENT ALL POSSIBLE CONFLICTS OF INTEREST THAT MIGHT ARISE OVER THE LIFESPAN OF THE COMPANY. AT THE TIME MATERIAL WAS PUBLISHED, CRYPTOCURRENCY CAPITAL LLC, ITS AFFILIATES, OR ITS PRINCIPALS, MAY HOLD LONG/SHORT POSITIONS IN THIS PARTICULAR COIN.
Written by:
Hammad Fazlani
Research Analyst