Trading in a tight channel currently after failing to make a sustained move above 52k. Important to realize that it now has a downward bias with the latest drop. Closely watching the support around 46k mark. A move under this region would most likely indicate further drop in the price. Neutral for now as the price action has not really taken a direction.
two possible scenarios present themselves. Obviously these are hypotehticals. The price action will most likely draw out a bit longer in this channel before a direction is determined.
two possible scenarios present themselves. Obviously these are hypotehticals. The price action will most likely draw out a bit longer in this channel before a direction is determined.
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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.