Buyers are currently exhausted, giving dominance to sellers which are early investors that are currently realizing their profits by selling some (or even all) of their positions.
At the Daily and 4H chart, there is a clear bearish divergence from CCI and Stochastics indicators confirmed by a strong sign of reversal from the peak candlestick with a very long wick (yellow circle).
This will occur in the next few days so I would caution everyone to jump into SUBBTC right now.
Looking at the fibonacci retracement levels, SUBBTC is playing with the 23.6% level on 0.00015000 satoshis, but knowing that we have a bearish divergence it will likely go down the 38.2% level on 0.00012700.
Unless there is public interest or great news, it might go down to the next fib level at 50% on 0.00010500 satoshis.
However, I'm still bullish long term on Substratum. I love their product!
This is just my opinion, not a financial advise.
At the Daily and 4H chart, there is a clear bearish divergence from CCI and Stochastics indicators confirmed by a strong sign of reversal from the peak candlestick with a very long wick (yellow circle).
This will occur in the next few days so I would caution everyone to jump into SUBBTC right now.
Looking at the fibonacci retracement levels, SUBBTC is playing with the 23.6% level on 0.00015000 satoshis, but knowing that we have a bearish divergence it will likely go down the 38.2% level on 0.00012700.
Unless there is public interest or great news, it might go down to the next fib level at 50% on 0.00010500 satoshis.
However, I'm still bullish long term on Substratum. I love their product!
This is just my opinion, not a financial advise.
Komen:
Just a thought, a bounce from the 78.6% might be unlikely, considering we might be at the start of a bear market for crypto and other markets. Let us all hope for a quick recovery.
Since we pierced through 61.8% levels, we might travel deeper to 78.6%