We are currently between the resistance of the Ichimokou cloud above us, with the 200 MA acting like it would in any ranging market.
Also we are beneath the 50 and 100 EMA signaling we are in a short downtrend.
What mostly worries me is the lack of volume in this are compared with the long period of consolidation we had just below 20K.
Now we seem to be in a pretty tight stop, we have touched support multiple times, and support/resistance becomes weaker after each touch, but we might first have a false breakout on the upside before the big move down.
I'm keeping my eyes opened and watching price action and volume.
But as usual, we could also have a massive move up if enough dip buyers step in.
Also we are beneath the 50 and 100 EMA signaling we are in a short downtrend.
What mostly worries me is the lack of volume in this are compared with the long period of consolidation we had just below 20K.
Now we seem to be in a pretty tight stop, we have touched support multiple times, and support/resistance becomes weaker after each touch, but we might first have a false breakout on the upside before the big move down.
I'm keeping my eyes opened and watching price action and volume.
But as usual, we could also have a massive move up if enough dip buyers step in.
Nota
Now we have to see if the previous support area of 30 to 31K does not become an area of resistance. If that happens we can expect further move down.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.