The price action has formed an ascending channel, as outlined on the chart, and ascending channels are highly likely to break down after 2 touches of the top of the channel.
We are looking at the volume and RSI14 to to confirm if the price is likely to move up before a breakdown or is there enough weakness that the price will not set another higher high.
Stay tuned and stay safe traders :)
We are looking at the volume and RSI14 to to confirm if the price is likely to move up before a breakdown or is there enough weakness that the price will not set another higher high.
Stay tuned and stay safe traders :)
Smart Crypto Association [ SCA ]
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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.
Smart Crypto Association [ SCA ]
Related publications
Disclaimer
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.