which normally will add support here. On top of that there is a channel
floor to add support. All these three different supports should normally easily
support price. If not, it is likely that a medium term top has been formed (3.31)
and a deeper move down is expected. Ultimately, trend will turn
first after a break below the Cloud, thus an entering inside the
Cloud turn trend neutral on this timeframe, and neither buyers nor sellers
are in charge.
If price finds support here, it is an excellent level to go long. If price breaks
lower it is wise to wait for a candle close and, if conservative, a confirmation close
after that. Note that almost 100 Bln $ has left the Crypto market in one day,
and if this outflow continues (which could just be profittaking from
recent rallies) it will put pressure even on the recilient Ripple. But this
outflow is currently looking like a normal market breathing and
should not be a cause of alarm.
If you want to support this channel check out the
profile page at the top for details. Thanks.
and buying is not favoured. Then wait for a Cloud breakout.