Price has bounced off the Weekly S1 and the previous resistance
level around 1.05 and is currently consolidating sideways below
the Monthly/Yearly R1 cluster 1.38-43 which is acting resistance.
Trend is bearish though the ascending SMA200 clarifies it as being
a retracement in a bullish trend. Bulls like to see a close above the
Kijun line (white line) currently at 1.3872, which could add fuel. Since
the congestion has been narrow over a few days the release of that
built up energy may cause a sharp move. A close below the 1.05 and
the SMA200 would be quite bearish and unnatural for a retracement
but there are signs of strong buyers around the 1.05. A break inside
the Cloud would be the first sign of a resumption of the uptrend.
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Todays_ technical view on the Total Market Cap can be seen here:
steemit.com/cryptocu...rket-cap-jan-12-2018
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level around 1.05 and is currently consolidating sideways below
the Monthly/Yearly R1 cluster 1.38-43 which is acting resistance.
Trend is bearish though the ascending SMA200 clarifies it as being
a retracement in a bullish trend. Bulls like to see a close above the
Kijun line (white line) currently at 1.3872, which could add fuel. Since
the congestion has been narrow over a few days the release of that
built up energy may cause a sharp move. A close below the 1.05 and
the SMA200 would be quite bearish and unnatural for a retracement
but there are signs of strong buyers around the 1.05. A break inside
the Cloud would be the first sign of a resumption of the uptrend.
******
If you want to support this channel check out the
profile page at the top for details. Thanks.
******
Todays_ technical view on the Total Market Cap can be seen here:
steemit.com/cryptocu...rket-cap-jan-12-2018
******