Possible area to buy
I can't identify any significant patterns here other than a clear tightening downtrend. It is moving down on low volume, and there is no strength in the trend. Stoch RSI shows it is already being oversold, which can facilitate the downtrend but is also a precursor for a reversal. The SAR indicator supports the downtrend hypothesis, but ADX confirms the trend is weak.
Fib time zones indicate another event in price action around August 20th, and judging by the strength of the trend, it is likely. A strong resistance area from the past is on the way, which makes me believe the downtrend will get stuck around that area. It will also hit the resistance line of the downtrend. At that moment, unless volume increases or TenX-related news comes out, it is likely to trend sideways within the confines of the resistance zone between fib levels 0.6 and 0.7 for some time.
Unless there is a strong sign of reversal, August 20th looks like a good day to buy wherever the price falls within that resistance zone at the time. At the moment, I see it unlikely to reach level 0.7.
0.00072-0.00075 looks like a good area to invest.
Thoughts? Have I overlooked anything? Maybe missed a pattern? Let me know!
Fib time zones indicate another event in price action around August 20th, and judging by the strength of the trend, it is likely. A strong resistance area from the past is on the way, which makes me believe the downtrend will get stuck around that area. It will also hit the resistance line of the downtrend. At that moment, unless volume increases or TenX-related news comes out, it is likely to trend sideways within the confines of the resistance zone between fib levels 0.6 and 0.7 for some time.
Unless there is a strong sign of reversal, August 20th looks like a good day to buy wherever the price falls within that resistance zone at the time. At the moment, I see it unlikely to reach level 0.7.
0.00072-0.00075 looks like a good area to invest.
Thoughts? Have I overlooked anything? Maybe missed a pattern? Let me know!
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