The Bear has shown its power as Bitcoin went down even further. This can cause other altcoins to lose more value. Investors could lose confident and would probably think that bearish trend will be longer than expected. Target H: 8500 L: 6500
NOTES:
- This is not financial advice so please do your own diligent before investing
- Never invest more than you can afford to lose
- Technical Analysis is not pure science
- Market is not something that can be predicted accurately because of the behaviors of investors
Theory:
Technical analysis employs models and trading rules based on price and volume transformations, such as the relative strength index, moving averages, regressions, inter-market and intra-market price correlations, business cycles, stock market cycles or, classically, through recognition of chart patterns.
In finance, technical analysis is an analysis methodology for forecasting the direction of prices through the study of past market data, primarily price and volume.