As it's well visible from the graph, the downtrend is dominant in this motion.
However, as previously said, the big support in the 3.000$ area is about to act as a recovery start.
In addition, there is a high chance to test the mid-term downtrend line, actually sitting at 3900.
We strongly suggest not to do any action at this current prices, but a long from the 3200/3300 area up to the 3800 area could be a smart move.
Of course, you should close the position in case the 3000$ support doesn't hold, and increase the size if we break 3.900$ resistance
Happy trading
BFCM
However, as previously said, the big support in the 3.000$ area is about to act as a recovery start.
In addition, there is a high chance to test the mid-term downtrend line, actually sitting at 3900.
We strongly suggest not to do any action at this current prices, but a long from the 3200/3300 area up to the 3800 area could be a smart move.
Of course, you should close the position in case the 3000$ support doesn't hold, and increase the size if we break 3.900$ resistance
Happy trading
BFCM
