Usdcad day buy price breaks down trend line upUsdcad day buy price breaks down trend line up .There is an opportunity to continue. Waiting for the price to fall to the support, the demand zone is an opportunity to buy orders and the rsi continue to move up.
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Breaksdowntrend
Bitcoin breaks above the downward channelBitcoin, which is known for its wild price swings, soared to around $US6,650. It breaks the downtrend line around $6315. This downtrend starts almost 2 months from now and if Bitcoin can manage to break the 23.6% fib level at $6758.7 next resistance line will be at 7368.17 which is expected to happen in the end of the week and by the next week.
Volume : Since the beginning of 2018, the market for digital currencies has been under pressure,hitting a year-low in market cap of close to $US230 billion on Friday.
Reason for the Downward Market Movment : Autonomous NEXT, the financial-technology research firm, estimates recent market woes are tied to the initial-coin-offering market, the crypto-based fundraising mechanism.
Positive Notes :
1. Double bottom that can be seen as the price reached the lowest price of the year ($US5,780) on two separate occasions (blue circles) but didn’t go any lower.
2. The break above the downward channel that we’ve been tracking. The price has managed to sustain above $US6,250 all weekend and breaks the resistance trend line today.
Possible Outcomes : Depending on the volume spike which it also depends on news for itself the market may show a very good boost for the following portion of 2018.