it is possible that a bear flag is forming. this could take the asset as low as 700 to fill heavy demand around 650. on the other hand, a strong turn to the upside can occur at any time, however large moves to the upside may be reserved for news surrounding a coinbase listing, which may easily find the asset to double in price.
Trade ist aktiv:
trading is still within the triangle. this could break either way
Kommentar:
My original assumption was correct. The ascending formation was bearish and we can expect a new low somewhere around 800. IF this trend breaks, 750 and 640 are the next important levels of current volume, 640 being the most impressive.