After a strong bearish imbalance in the market, the forces came to a point, where both of them agree with the price.
On the 4h chart we can see a trading range, which is confirmed by a low volume.
The RSI managed to go back above 30.
The price is far below the 30 EMA, so the market is still in a bearish mood.
The price will probably remain for a while in this range and then a next breakout will follow.
There is a small possibility of a little reversal upward, but under current circumstances i am assuming another drop down.
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On the 4h chart we can see a trading range, which is confirmed by a low volume.
The RSI managed to go back above 30.
The price is far below the 30 EMA, so the market is still in a bearish mood.
The price will probably remain for a while in this range and then a next breakout will follow.
There is a small possibility of a little reversal upward, but under current circumstances i am assuming another drop down.
If you found this post helpful, like, comment, and subscribe!
Telegram Signals
t.me/NextLevelCrypto