$NOT Still Not In Favour Of Entering Spot At This Moment. 🚫
Just playing the waiting game. Whatever doubts I had that I posted earlier are taking the shape of reality.
And the decline is getting deeper. 📉
Today I'm sharing some key points on the 2h time frame as 20 & 50 DMA(daily moving average) have come into existence. Although things look pretty much same on the 1h time frame as well with 20, 50 & 100 DMA appearing.
📌 Now $0.005 was the support level to be hit which I mentioned earlier( check pinned comment on the thread below) and the support looked promising for some time but as expected this level was broken too. So, this price becomes immediate resistance.
📌 Continuing further from the last post, since we're in a price discovery zone, new support levels are seen and getting broken with ease.
Result: Further downside.
Currently, the support looks promising at $0.0048 although at the time of writing it's trading above $0.0048.
📌But here's the twist I'd still not consider this a good entry as the price action is weak. Also indicators signal further weakness. So have patience and let's see how low it can travel.
There are a few things I'm analysing on the chart and if the day's closing goes as per my expectation, I'll share a spot entry related post.
Till then, just wait and watch. Have a great fall.
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