Ok so now that I have your attention ;)
We broke out of the symmetrical triangle that started in April.
We are now retesting the bottom of that on triangle.
IMO if we don't see a close above 1.46 we will very likely move down again. Due to the size of this triangle the move may be big.
If we go through the 1.29 the first bit of support is at 1.13 but that is not substantial.
Major supports below that are at 1.01 0.91 and finally at 0.63.
The 1.01 support should coincide with the 100EMA at that time and may spike down to the $1 psychological support.
After that, it will get dirty quickly.
As mentioned a close above the bottom of the triangle and preferably above 1.46 resistance will null and void the move down for now.
This is my personal TA and not meant as fin advice.
Remember there are also a lot of fundamentals at play at the moment and then there is BTC so we will have to wait and see. For me, I sold already and waiting in fiat at the moment to see where this is heading.
Trade safe!!
We broke out of the symmetrical triangle that started in April.
We are now retesting the bottom of that on triangle.
IMO if we don't see a close above 1.46 we will very likely move down again. Due to the size of this triangle the move may be big.
If we go through the 1.29 the first bit of support is at 1.13 but that is not substantial.
Major supports below that are at 1.01 0.91 and finally at 0.63.
The 1.01 support should coincide with the 100EMA at that time and may spike down to the $1 psychological support.
After that, it will get dirty quickly.
As mentioned a close above the bottom of the triangle and preferably above 1.46 resistance will null and void the move down for now.
This is my personal TA and not meant as fin advice.
Remember there are also a lot of fundamentals at play at the moment and then there is BTC so we will have to wait and see. For me, I sold already and waiting in fiat at the moment to see where this is heading.
Trade safe!!
Comment:
Testing the top of the triangle now on nice volume so lets see if it sustains this move upward.
Comment:
The bounce on the 13th threw us out a little but with the failure on the triangle in play we are hitting the targets now.
Comment:
Spot on.
