$DGB Rejected at the ceiling and slammed down—this rebound is pretty much doomed
Guys, take a look at this chart.
DGB made a push upward, but as soon as it reached the heavy supply zone overhead (around 0.00545 to 0.0075), the bears knocked it straight back down. The daily candle closed as a solid bearish candle, showing that too many people are waiting to break even and get out above. There’s simply no way to push it higher.
Worse still, a second bearish candle is now following close behind.
Here’s the bottom line:
This is a classic case of price running into strong resistance—the bulls have run out of steam. Unless it closes back above that level today, it’ll most likely keep dropping and test the previous low.
Don’t try to catch a falling knife.
If there’s a bounce, watch for a move back toward 0.0038–0.0040. If it looks like the rally is losing steam, you can consider shorting with the trend. $ETH
Set your stop-loss above 0.0045 to keep your risk under control. $BTC
Guys, take a look at this chart.
DGB made a push upward, but as soon as it reached the heavy supply zone overhead (around 0.00545 to 0.0075), the bears knocked it straight back down. The daily candle closed as a solid bearish candle, showing that too many people are waiting to break even and get out above. There’s simply no way to push it higher.
Worse still, a second bearish candle is now following close behind.
Here’s the bottom line:
This is a classic case of price running into strong resistance—the bulls have run out of steam. Unless it closes back above that level today, it’ll most likely keep dropping and test the previous low.
Don’t try to catch a falling knife.
If there’s a bounce, watch for a move back toward 0.0038–0.0040. If it looks like the rally is losing steam, you can consider shorting with the trend. $ETH
Set your stop-loss above 0.0045 to keep your risk under control. $BTC