it is possible that a bear flag is forming. this could take the asset as low as 700 to fill heavy demand around 650. on the other hand, a strong turn to the upside can occur at any time, however large moves to the upside may be reserved for news surrounding a coinbase listing, which may easily find the asset to double in price.
Trade active
trading is still within the triangle. this could break either wayNote
My original assumption was correct. The ascending formation was bearish and we can expect a new low somewhere around 800. IF this trend breaks, 750 and 640 are the next important levels of current volume, 640 being the most impressive.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.