#CFX RESPECTS THE PREVIOUS YEAR'S SUPPORT ESTABLISHED: WHAT'S NEXT?
Before that, let me tell you something...
So a trader asked me. Why don't you do trades a week before and after the closing and opening of a month?
Simple answer is.
Monthly buying happens if the month closes bearish and monthly selling happens if the month closes bullish.
These normally happens a week or more in the crypto market.
Even when you hype me up with major news on major resistance, it won't make me budge.
Since I know for a fact that it will just follow the same traditional way of trading (but with slight twist called volatility).
Opportunities aren't given, you open them.
Now, let's talk about CFX.
Looking at CFX, we have pinpointed the potential for it to continue its markup. While taking this into consideration, we have taken a long trade from above the previously established support. After entering at 0.1372, the price bounced towards 0.2011 in which we were able to take profit of 46.57%. Right now, the more CFX' stays in these newly established support. It will more likely caused another set of interest from potential buyers to arise. Although, the possibility of a continued consolidating situation from 0.12-0.21 may be possible until the next major move. Therefore, it would be wise to continue finding more potential long options the more the market continues to drop down. Since there will also be a lot of buyers awaiting on those key levels.
These posts are for educational purposes. To guide the people who might still be struggling within the crypto market, those who are new to the environment and volatility and everyone else who needs it.
Stay wise, trade cautiously.
