The amount of volume traded at the lower range says a lot, if you think about it. We haven't gotten close to distributing those coins in these upper ranges. THere's a lotof profit taking that any rising price will have to move through sell pressure. On the other hand, we aren't anywhere near done with this bull run. The volume curves will actually flip by the time its done.
For now, my money is that if we fail to bounce meaningfully in the present zone $60k, we'll take another slide to $53k. That's my optimistic target, but I'm waiting to see what we'll do at the $60k support, which has been tested several times already.
For now, my money is that if we fail to bounce meaningfully in the present zone $60k, we'll take another slide to $53k. That's my optimistic target, but I'm waiting to see what we'll do at the $60k support, which has been tested several times already.
Trade chiuso: obiettivo raggiunto:
Trade closed when support bounced at 60k. There's some price-action to support this support line in addition to fib. I'll wait and see if it wants to go down to around 53K which also is a support along the 0.5 fib retrace and some past price-action.