Price is still in markdown phase
X line is the major trendline and Y is the internal trendline.
Points A, B, C, D and E are major important lows with the corresponding volume.
Chinkou span line has been making lower - low NB: Indicating price is still in markdown phase.
Kinjun-sen line has moved downward.
New trading range defines $7,395 - $ 12,000, pick from weekly chart.
CONCLUSION : #Target 2 is still intact. #price can be considered to be in markdown phase. #More price actions need to develop before we can consider point F selling climax or bottom and pay close attention to volume when the last low price is tested. #Lower time frame can give clue on how the new phase will evolve.
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Price is still in markdown phase
X line is the major trendline and Y is the internal trendline.
Points A, B, C, D and E are major important lows with the corresponding volume.
Chinkou span line has been making lower - low NB: Indicating price is still in markdown phase.
Kinjun-sen line has moved downward.
New trading range defines $7,395 - $ 12,000, pick from weekly chart.
CONCLUSION : #Target 2 is still intact. #price can be considered to be in markdown phase. #More price actions need to develop before we can consider point F selling climax or bottom and pay close attention to volume when the last low price is tested. #Lower time frame can give clue on how the new phase will evolve.