Bullish momentum halted by the 312sats Weekly Resistance, price then fell to the next Weekly Support which was 211sats. This level held initially but has now broken and flipped to Resistance which has been tested 3 times with no breakthrough. Price has now created 4 Lower Highs and seems set to resume the bearish trend it has been stuck in since the Summer of 2018.
The next Weekly Support is 119sats which is where I expect price to go even if it was only wicked. At this Weekly Support price has the opportunity to form a Higher Low in comparison to the ATL's we saw in the accumulation period between Aug 2019 and April 2020.
The next Weekly Support is 119sats which is where I expect price to go even if it was only wicked. At this Weekly Support price has the opportunity to form a Higher Low in comparison to the ATL's we saw in the accumulation period between Aug 2019 and April 2020.
Comment:
Price reached 119sats on 5th November