What’s up people!
Today we’re taking a look into the price movement of .
As we can see, is forming a that is on the verge of breaking down.
- The target of the coincides with the 200-Moving Average (Blue Line) which represents a price of around 4500$.
- A bounce from there is highly likely, but this bounce is most likely going to be short lived for several reasons, one being that the at that level is weak and that area has not acted as support in the past.
- The conclusion is that the most logical place for a entry at this time for a long position is the 4000$ level, around the 500-Moving Average (Purple Line) which also is the . from the lowest , the initial upswing from 3200$.
If you want to take a position in price right now, shorting it would be the most profitable way, with a stop loss at 5135$ and a take profit around 4500$
If you rather long , the best entry price would be in the lows of 4000$.
Published at Sun, 14 Apr 2019 05:49:16 +0000