As shown above, the price action is continueing the downtrend movement in a long term scenario. It has tested the strong support twice. It may retest the support before retracing. Price needs to retrace before breaking this support.
This is also where many retail traders get rekt'ed because whales like to play this range. Please trade support and resistance only. Do not jump in in the middle.
After confirming your support and resistance, you can put your stop loss there, so as not to get stop hunted.
Fork is coming. Price retracement is right before the fork. Is this a coincidence? No, this is market sentiment.
Before making final decisions, you can correlate this price action with other pairs, such as btcusd and ltcusd. This is very important.
This is also where many retail traders get rekt'ed because whales like to play this range. Please trade support and resistance only. Do not jump in in the middle.
After confirming your support and resistance, you can put your stop loss there, so as not to get stop hunted.
Fork is coming. Price retracement is right before the fork. Is this a coincidence? No, this is market sentiment.
Before making final decisions, you can correlate this price action with other pairs, such as btcusd and ltcusd. This is very important.