short term shrinking price before it's new rally?

2 feb 2023

on MACD we can see a clear local bearish divergence pattern.

also price is moving above the local ascending pennant but sideways.

so if the price closed below the baseline on the chart has more chance

for more decline and at this case 21K would be our main support level.

also price can hit it's main resistant level around 25K before main correction.




Enjoy the market

6 feb 2023

Trade attivo

remember: above the baseline more bullish, below the baseline more bearish

10 feb 2023

Trade attivo

price declined after some consolidation moves as expected.
still seems more downward pressure could continue and I expect 21K will retest. however my judgment would be the same baseline. lets see

14 feb 2023

Trade attivo

price touched the blue area and bounced back. I still don't see any strong move upside however could be more bullish if the price can close above new key level on my chart.

16 feb 2023

Trade chiuso: obiettivo raggiunto

closed above the baseline and surged.