We were going up in a neat uptrend channel but then after a few news which you can see here, market broke down:
Then the price went through consolidation and tried to go back inside the uptrend channel again but it wasn't strong enough to go back in. you see one we're out of a trend, the trend's bands become dynamic resistance areas and it need a lot of buy volumes to drill our way inside.
So I guess after a few tries we might be able to do it.
Also, if not, we will consolidate sideways, or even drop lower to the next support which I've shown on the chart.
I'll keep this chart updated.
Use this chart as your trade setup for now.
Current Market Price: $44050
Good Luck
Tell me your ideas. Like and Share
Then the price went through consolidation and tried to go back inside the uptrend channel again but it wasn't strong enough to go back in. you see one we're out of a trend, the trend's bands become dynamic resistance areas and it need a lot of buy volumes to drill our way inside.
So I guess after a few tries we might be able to do it.
Also, if not, we will consolidate sideways, or even drop lower to the next support which I've shown on the chart.
I'll keep this chart updated.
Use this chart as your trade setup for now.
Current Market Price: $44050
Good Luck
Tell me your ideas. Like and Share
