Possible reversal around 87c mark

2018년 4월 23일

Looking at the daily chart, we hit resistance around the current 87c level late Feb early Mar, now we're back at that point again. Price has also hit this level from the top multiple times making it a strong support level. Now we're coming from below that level, and given the relatively low volume right now, I'm thinking we might bounce off it as resistance and head lower.

Next level with any sort of consistent price action is around 67-70c.

Also given we've gone from under 50c to over 93c in 9 days (almost a 100% gain), clearly we're due for a (very healthy) pullback.

My advice - lock in any profits you have from long positions right now and either go short with close stops, or wait for the coming correction before re-enetring long positions..