No News is Good News...So far. If $2.70 fails, look to $2
This area should be a strong area of support. Based on my charting, Crypto should bounce. Crypto's not done by a long shot, but certainly, bearish and the trend is down, with that said, I think there is a reversal coming, and if we get over 53K in Crypto, another shot at a top between 73K and 90K. BTC is the gorilla in the room today and will float most boats IF this trend reversal plays out as I think it may in the next week or so. I'm not saying it's going there in a week, what I'm saying is that I think this correction in Crypto is nothing more than a healthy correction and it will take time but who knows? If ANY fails to hold support here at $2.70, the next stop is a slow painful crawl to $2.23 and if that fails a retest of $2, and if that fails, well....you see my chart.
I'm optimistic that the merger will produce results and this company is continuing to move forward... otherwise I'm assuming that even though they would not want to, they would have provided reasonable notice to their shareholders/stakeholders otherwise. This one will move according to the Crypto market. If that market drops, expect steeper losses here because there's no other story here but this lingering merger which should get a nice pop when the news of its successful execution is out of the bag.... period.
Finally, in my opinion, If there's an issue with the merger, well then...put a fork in this one.
I'm optimistic that the merger will produce results and this company is continuing to move forward... otherwise I'm assuming that even though they would not want to, they would have provided reasonable notice to their shareholders/stakeholders otherwise. This one will move according to the Crypto market. If that market drops, expect steeper losses here because there's no other story here but this lingering merger which should get a nice pop when the news of its successful execution is out of the bag.... period.
Finally, in my opinion, If there's an issue with the merger, well then...put a fork in this one.
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