Bottomed or it will going deeper to 20?
Hi there!
I am still a big Chia fan still and never give up only in case if this project die.
For now, news that Chia fired 26 of its 70 employees was push the price under very strong multi support level and psychological level of 20 USD is nearby and a few scenarios is possible! Much depend on next BTC movement also for sure. First scenario is backtest to Fibonacci 61.8 level what is at same place where was the lowest low. Rejection is possible from there but if the price going above the multi support level everything can happen (we need some very good Chia fundamentals for that).
Price can also go directly to 20 from this point, but for now probability for backtest to 25 zone is look little higher for now.
Good luck traders, farmers and holders :-)
I am still a big Chia fan still and never give up only in case if this project die.
For now, news that Chia fired 26 of its 70 employees was push the price under very strong multi support level and psychological level of 20 USD is nearby and a few scenarios is possible! Much depend on next BTC movement also for sure. First scenario is backtest to Fibonacci 61.8 level what is at same place where was the lowest low. Rejection is possible from there but if the price going above the multi support level everything can happen (we need some very good Chia fundamentals for that).
Price can also go directly to 20 from this point, but for now probability for backtest to 25 zone is look little higher for now.
Good luck traders, farmers and holders :-)
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DISCLAIMER
Taking a risk on the markets based on this idea is only and only your decision. You profit is your success and you are only responsible for your potential loss.