Hello.The previous trend line has been smashed and now we have a new one (uptrend line).Aften the sudden mark up we had a destribution and a support level.In this level the buyers tried to keep the price but we had 2 times resistance at 38.2% fibo level which mean that sellers were aggresive too.Buyers lost the "battle" and gave second opportunity to support the market . If we take into coonsideration the volumes and the width of the price in the green support level(between 3.7 to 4.1) we can understand that buyers starting to lose their confidence and courage for this market.
I recommend if someone is long holder to stop losses now or a big amount of his/her portofolio.Full sell of shares at the price 3.66.Next predicted support level(and simultaneously a very good spot to buy the shares) at 2.9.
Thanks and good trades.
I recommend if someone is long holder to stop losses now or a big amount of his/her portofolio.Full sell of shares at the price 3.66.Next predicted support level(and simultaneously a very good spot to buy the shares) at 2.9.
Thanks and good trades.