Prediction of a price correction
So the red line is the price point we are continually retesting and rejecting as you can see it's been rejected three times
at the moment i do see an upwards channel happening like it did prior between start of 2019 and Jul however the volume does not reflect the previous bull run, instead, it seems to be dropping and the rise is much more steep than a healthy gradual build like before, which may signal a price correction. I don't think the price will exceed $28 and is looking to be forming a double top before dropping.
*This is in no way trading advice, simply an opinion
at the moment i do see an upwards channel happening like it did prior between start of 2019 and Jul however the volume does not reflect the previous bull run, instead, it seems to be dropping and the rise is much more steep than a healthy gradual build like before, which may signal a price correction. I don't think the price will exceed $28 and is looking to be forming a double top before dropping.
*This is in no way trading advice, simply an opinion
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