CVC Consolidating after a bloody day
Red zones are heavy support zones. Green zones are next legs up and resistance areas. We want to see price discovery in the blue zone. After a relatively bloody day for mostly all of the crypto realm on Friday 1/8/21 we are seeing CVC gather itself into a consolidation pattern. Positives is that CVC really didn’t fall to far down from its recent high showing strong BUY support. Currently the buy/sell ratio is 50/50. My thought is that CVC is coiling up here and will be testing the price discovery blue zone sooner than later. Keep your eye on the volume. This could be a good opportunity to get in with very promising risk/reward. Just my thoughts, not financial advice. What do you think?
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.