With Aug. 1 looming around the corner, the total coin market cap is monotonically decreasing. All coins are predictably following this downward trend with very little signs for reversal.
Support lines @ 175 and 183 match previous structure.
If the trend continues, a reversal @ 1.68 fib level back to 1 or 0.786 can signal an opportunity for a short near 182 and 186, respectively.
If price breaks the lower trend line, will have to reconsider a lower short opportunity.
I'm expecting all coin prices to continue declining leading up to Aug. 1, hence many opportunities for shorting.
Support lines @ 175 and 183 match previous structure.
If the trend continues, a reversal @ 1.68 fib level back to 1 or 0.786 can signal an opportunity for a short near 182 and 186, respectively.
If price breaks the lower trend line, will have to reconsider a lower short opportunity.
I'm expecting all coin prices to continue declining leading up to Aug. 1, hence many opportunities for shorting.