As suggested in the last post it was a good idea to put a sell position.
On friday the volume was pretty low. Still the price went down. This meant that there were few sellers and even less buyers.
Still the low volume means that many holders are not concerned about the price dropping.
I closed my sell position on friday due to the quite low volume. There could be a momentary up. The major trend for now is downward.
If we are going to break the next support level the downtrend has much probabilities to continue until the next supporting level. Though we need to be careful to the volumes. If on this monday we can see a significant amount of volume and the price dropping we have an other confirm that the price is expected to drop for some other time. Though it's strange that we didn't have one little up moment since long time.
In my total opinion I expect that soon there will an up moment followed from again by the major downtrend for some other time.
On friday the volume was pretty low. Still the price went down. This meant that there were few sellers and even less buyers.
Still the low volume means that many holders are not concerned about the price dropping.
I closed my sell position on friday due to the quite low volume. There could be a momentary up. The major trend for now is downward.
If we are going to break the next support level the downtrend has much probabilities to continue until the next supporting level. Though we need to be careful to the volumes. If on this monday we can see a significant amount of volume and the price dropping we have an other confirm that the price is expected to drop for some other time. Though it's strange that we didn't have one little up moment since long time.
In my total opinion I expect that soon there will an up moment followed from again by the major downtrend for some other time.