As we wrote in our previous review, on the level above $2,400, the bears showed their strength and took over the initiative
And now $2,000 is already the resistance level, limiting the rebound from a minimum of $1,350.
Buyers are demoralized. Trading volumes fell.
The indicator "Crossing of moving averages" is showing sale.
The slow moving average has been declining for more than 10 days.
There are all signs of a falling trend.
The support level on $1200 should keep the sellers for a while.
However, the minimum of this downward trend is likely to be lower, perhaps around $800.
Recommendation: sell above $1800.
Cancellation of the idea of a falling trend is in case of a return and consolidation of the rate above $2400
And now $2,000 is already the resistance level, limiting the rebound from a minimum of $1,350.
Buyers are demoralized. Trading volumes fell.
The indicator "Crossing of moving averages" is showing sale.
The slow moving average has been declining for more than 10 days.
There are all signs of a falling trend.
The support level on $1200 should keep the sellers for a while.
However, the minimum of this downward trend is likely to be lower, perhaps around $800.
Recommendation: sell above $1800.
Cancellation of the idea of a falling trend is in case of a return and consolidation of the rate above $2400
