In my previous analysis I stated that a higher low was formed which could indicate possible reversal. As we can see BINANCE:CNDBTC has broken out of its current trend now and tested the 0.236 fib level but did not manage to really break it. At the moment of writing a big sell wall still exists at the 1600 price mark. If this could be broken, the next target would be the 0.382 fib level at around 1766. Of course, closing again under the trend line would be bad news and indicate a false break out.
side note: In my experience, this coin is really volatile at the moment and every big green candle was almost always followed by an evenly big red candle so trade with caution and use stop limits to secure profits at the right price targets.
side note: In my experience, this coin is really volatile at the moment and every big green candle was almost always followed by an evenly big red candle so trade with caution and use stop limits to secure profits at the right price targets.
