Taking a look at the daily chart, we can see that in the previous two cycles since falling from the top, the price bounced drastically off of the bottom support of the descending channel before returning back down to land on the horizontal support.
This movement creates a ‘W’ looking pattern that looks like it will soon complete a third repetition of the cycle.
A short-term trade opportunity could potentially still be profitable by riding the wave to the top and selling off before it returns to the $0.26 range.
Read the full analysis from BeInCrypto: beincrypto.com/long-...to-short-term-bliss/
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