Context:
after the broken support of 24000 price attempted to rally off the demandline , but price
got rejected at the former mean of the range at 26000 which is a sign of weakness,
however the selling pressure isnt powerfull at the moment so there is still chance that price
attempts another rally , but this time it also has to takeout the supplyline... in order to speak of
strenght returning. if we break the demandline for good we will see a retest of the 50% mark at 17000
Signs of strength:
uptrend
Signs Of weakness:
broken support
rejection of the mean
Support:
21500
20000
17000
Resistance:
24000
26000
28000
www.invezted.com
after the broken support of 24000 price attempted to rally off the demandline , but price
got rejected at the former mean of the range at 26000 which is a sign of weakness,
however the selling pressure isnt powerfull at the moment so there is still chance that price
attempts another rally , but this time it also has to takeout the supplyline... in order to speak of
strenght returning. if we break the demandline for good we will see a retest of the 50% mark at 17000
Signs of strength:
uptrend
Signs Of weakness:
broken support
rejection of the mean
Support:
21500
20000
17000
Resistance:
24000
26000
28000
www.invezted.com
