MASSIVE Crypto Bear Break Confirms Pullback

in #ethereum6 years ago

Screen Shot 2018-06-09 at 6.48.01 PM.png

Well, we were not expecting this situation at all. After a break of support after days and days of sideways trading, the bears came out of the woods and showed they were still relevant. The volume wasn't as great as we've seen before, yet the volume and price levels confirmed that the bulls were done. We saw a break and close below the extremely relevant $580 which now confirms prices will pull back longer to see a down trend continue.

Prices have been extremely oversold on the shorter term, we we'll likely see a rally up to $595 and then a likely pullback.

Unfortunately this was not the break we were all hoping for. However, we will now know that price pullbacks are still on the horizon meaning a cheaper entry point.

Sorry for not having better news for you all. Hope the weekend is still going ok.

happyTrading.png

Sort:  

Thanks for today’s update! I appreciate the information.. looks a bit of ugly here

Yep, was worried about this scenario but it was definitely possible....waiting for a bounce now.

Coin Marketplace

STEEM 0.35
TRX 0.12
JST 0.040
BTC 70597.89
ETH 3559.60
USDT 1.00
SBD 4.77