Trading in a tight channel currently after failing to make a sustained move above 52k. Important to realize that it now has a downward bias with the latest drop. Closely watching the support around 46k mark. A move under this region would most likely indicate further drop in the price. Neutral for now as the price action has not really taken a direction.
two possible scenarios present themselves. Obviously these are hypotehticals. The price action will most likely draw out a bit longer in this channel before a direction is determined.
two possible scenarios present themselves. Obviously these are hypotehticals. The price action will most likely draw out a bit longer in this channel before a direction is determined.
