Hey fellow traders!
OK, so that initial ascending triangle I drew did not work out so well.. It broke below the trendline with a decent amount of selling volume. It has continued to stay below 233 and now sits below the MA26. I drew a second trendline that extends the ascending triangle out a little further. We need to keep watching this and the volume to determine if it has a chance to break out to the upside and continue that bullish momentum. I have drawn lines over the volume to show the decreasing buying volume while the selling volume remains constant.
*Keep in mind, the LTC fork may also have something to do with the buying/selling, the last few days but the trend is the trend. Volume and price action are key.
A break below this trendline would probably send it to 208 and possibly break further to 189.
-CrypToNY026
OK, so that initial ascending triangle I drew did not work out so well.. It broke below the trendline with a decent amount of selling volume. It has continued to stay below 233 and now sits below the MA26. I drew a second trendline that extends the ascending triangle out a little further. We need to keep watching this and the volume to determine if it has a chance to break out to the upside and continue that bullish momentum. I have drawn lines over the volume to show the decreasing buying volume while the selling volume remains constant.
*Keep in mind, the LTC fork may also have something to do with the buying/selling, the last few days but the trend is the trend. Volume and price action are key.
A break below this trendline would probably send it to 208 and possibly break further to 189.
-CrypToNY026
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.