Looking at things on the higher time frames I can see that price is in a consolidation pattern with no directional bias as to which way it will break out.
I think we'll see a bounce from inside this zone after the weekly candle forms what I believe will be a swing low. From there we should head back up to retest the trend line either next week or the following. I have't put in horizontal support levels because they would of been laddered inside the zone anyway and I wanted to keep the chart tidy for easy viewing and understanding. I'll reassess at the end of the week when this candle closes but for now I'm bullish for next week.
Quick note - This is the third consecutive week in the red after we had FIVE weeks of green. If you can't handle the dips you need to reevaluate what you're doing in such a volatile market.
Feel free to comment your own opinion on the market.
@cryptoisascam
I think we'll see a bounce from inside this zone after the weekly candle forms what I believe will be a swing low. From there we should head back up to retest the trend line either next week or the following. I have't put in horizontal support levels because they would of been laddered inside the zone anyway and I wanted to keep the chart tidy for easy viewing and understanding. I'll reassess at the end of the week when this candle closes but for now I'm bullish for next week.
Quick note - This is the third consecutive week in the red after we had FIVE weeks of green. If you can't handle the dips you need to reevaluate what you're doing in such a volatile market.
Feel free to comment your own opinion on the market.
@cryptoisascam