What a day! Crypto Volatility. We see price attempting to close below
the Cloud on three candles failing, Now the fourth one is currently also
fighting to stay above support. In a normal market, these long wicks
would scream for longs, but since the situation is extraordinary one
has to be cool and wait if bullish, to make sure a reversal comes. One of the
first signs would be a close above the 254.50 level. The upper inside
of the Cloud will be natural resistance from here. Technically impressive
wick showing plenty of buying power below the Cloud and around
the 200 USD mark. A candle close below the Cloud may spur further
downside though.
the Cloud on three candles failing, Now the fourth one is currently also
fighting to stay above support. In a normal market, these long wicks
would scream for longs, but since the situation is extraordinary one
has to be cool and wait if bullish, to make sure a reversal comes. One of the
first signs would be a close above the 254.50 level. The upper inside
of the Cloud will be natural resistance from here. Technically impressive
wick showing plenty of buying power below the Cloud and around
the 200 USD mark. A candle close below the Cloud may spur further
downside though.