Well what a difference a day makes... as many know the weekends are full of market manipulation at its finest! Because of the low volume even a "small" whale can start a panic sell which is what happened. But it also changes the game for the coming week and only extends the bleeding for a short time.
Many of the same indicators that predicted the bounce last week from 7.1 are showing another in coming bounce so in my eyes I don't seeing it going down too much more.
One thing to be watchful though is looks like we have formed another downward pointing wedge that could extend to 6.9 so if we don't break out of this soon we could take another trip lower. Oh and one other thing to note the candle from yesterday still did not engulf the original bounce from 7.1 so this could easily be a bear trap you just should be watchful!
As with all of this keep an eye on things and don't panic sell what goes down will come back up so panic selling only makes the rich get richer.
Many of the same indicators that predicted the bounce last week from 7.1 are showing another in coming bounce so in my eyes I don't seeing it going down too much more.
One thing to be watchful though is looks like we have formed another downward pointing wedge that could extend to 6.9 so if we don't break out of this soon we could take another trip lower. Oh and one other thing to note the candle from yesterday still did not engulf the original bounce from 7.1 so this could easily be a bear trap you just should be watchful!
As with all of this keep an eye on things and don't panic sell what goes down will come back up so panic selling only makes the rich get richer.
Note
An more supports break... there's a reason why this happens on the weekends. Way to easy for them... could be 6.3k soon.Note
Well if you guys haven't taken a look at some of the news sources I wouldn't trust many of the TA's today... the market manipulation investigation talked about in an article this morning looks to have kicked all of this off... the support at .56 doesn't look like it will hold and .48 looks to be the next drop and soon. I am out for the time being...Good luck everyone!
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.
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.