Looking at the daily chart, it is clear that since September 2018 we always make lower highs and lower lows.
There are several higher lows but not quite significant.
YES! Around May-July, there were 2 higher highs formed. But after the breakdown, unfortunately we instead made a descending triangle pattern. (already had a breakdown on November)
Our middle line on downtrend channel has been confirmed / tested since November 2018.
Every time the trendline has broken, 200 EMA always back it up (red circle).
The last time we broke both of them at the same time, the price immediately fell -65% (green circle).
Right now, we're heading for key points which in my opinion are quite crucial. (blue circle)
Around the middle of February, we'll be:
1. Return to the APEX of descending triangle
2. Facing 3 strong resistance (middle line channel, yearly resistance, 200 EMA)
Higher probability for me is that resistance will immediately reject our upwards movement and soon create a new lower highs. Then price will dump towards $ 0.20 to retest yearly low. If that supports fail to hold.. Then next target is 2017's low (black support).
The possibility for upside breakout is very small, but if it happens. It will be very mooning!
If you like my analysis please leave a like, follow, and share.
Don't forget to analyze and research yourself, happy trading and always secure your capital🙏✌️
There are several higher lows but not quite significant.
YES! Around May-July, there were 2 higher highs formed. But after the breakdown, unfortunately we instead made a descending triangle pattern. (already had a breakdown on November)
Our middle line on downtrend channel has been confirmed / tested since November 2018.
Every time the trendline has broken, 200 EMA always back it up (red circle).
The last time we broke both of them at the same time, the price immediately fell -65% (green circle).
Right now, we're heading for key points which in my opinion are quite crucial. (blue circle)
Around the middle of February, we'll be:
1. Return to the APEX of descending triangle
2. Facing 3 strong resistance (middle line channel, yearly resistance, 200 EMA)
Higher probability for me is that resistance will immediately reject our upwards movement and soon create a new lower highs. Then price will dump towards $ 0.20 to retest yearly low. If that supports fail to hold.. Then next target is 2017's low (black support).
The possibility for upside breakout is very small, but if it happens. It will be very mooning!
If you like my analysis please leave a like, follow, and share.
Don't forget to analyze and research yourself, happy trading and always secure your capital🙏✌️
