I am going to make a full analysis on this pair right now and i will say why i think this is a perfect short setup in my opinion,so let's get started.
-First the pair was in a strong bullish momentum since the bottom and now we see how price is strugling to make HH, and when the price makes a HH the price immediatly gets rejected.
-On this chart you don't see but we have in this area the 50 Weekly MA and 200 daily MA acting like resistance.
-We have a perfect ABCD pattern.(Which has the target around 0.88.
-We are seeing on RSI how perfectly the bulls are losing the power and the bears soon will take the control .( Divergence)
-And finnaly we did not had a significant retracement since around 10 days ago.
- CryptonikLion
-First the pair was in a strong bullish momentum since the bottom and now we see how price is strugling to make HH, and when the price makes a HH the price immediatly gets rejected.
-On this chart you don't see but we have in this area the 50 Weekly MA and 200 daily MA acting like resistance.
-We have a perfect ABCD pattern.(Which has the target around 0.88.
-We are seeing on RSI how perfectly the bulls are losing the power and the bears soon will take the control .( Divergence)
-And finnaly we did not had a significant retracement since around 10 days ago.
- CryptonikLion