DOT about to Breakdown from MASSIVE Price Channel. SHORT.

These crypto charts are ALL looking various shades of UGLY.

Already traded this one earlier with SHORT from $21.79. Closed that trade and NOW SHORT again.

We are breaking down from massive Price channel of the last 2 years (Solid Think Yellow Lines). On the Daily chart we have tested this level many times and the momentum is picking up to the downside as well as all small rallies have been sold to reach support here.

I am anticipating a break of the thin yellow support line and a washout lower.

Trade what you see.

İşlem aktif:

SHORT Entry @ $18.83

İşlem aktif:

Added small amount more to the trade

2nd SHORT Entry @ 18.6923.

Yorum:

May get a bounce up to $18.87 with another chance to SHORT for those so inclined. I will NOT be adding to this position as I am already heavily SHORT the crypto market in general

Yorum:

Is it me or does something feel like its about to BREAK?. The charts just keep getting uglier to me. Maybe when the markets open tonight this will change but right now there seems like little positivity to see in charts.

I would love nothing more than for crypto to become BULLISH again but I just dont see it. All I see are trend lines and Bear Flags being broken and rejections off resistance zone.

ON EVERY SINGLE TIME FRAME.

Trade what you see.

İşlem aktif:

Price is Coiling up in a TIGHT Trading range today. That usually precedes a STRONG move in one direction or another. Which Way?? UP or DOWN??

Yorum:

Covered SHORTS for a moderate profit and will reenter once we retest the resistance again. It appears we will retest $18.80 range before dropping further.