The ride is over for darling of the cryptocurrencies as a terminating wedge formation has evolved on the daily chart.
There has been warning signs in the both indicators of a correction with a divergence present since the end of February.
With the conformation RSI unable to keep above 60 level indicating we are in bearish territory.
We should see a three wave move to the downside to the Lucas level (76 fib) which is below 20K USD.
I'm a great fan of this financial product and will looking to buy in at this level.
At the time of writing the analysis the move has already start.
There has been warning signs in the both indicators of a correction with a divergence present since the end of February.
With the conformation RSI unable to keep above 60 level indicating we are in bearish territory.
We should see a three wave move to the downside to the Lucas level (76 fib) which is below 20K USD.
I'm a great fan of this financial product and will looking to buy in at this level.
At the time of writing the analysis the move has already start.
Time is the only true currency...how will you spend yours and what value will you receive?