2021-09-10 22:22:32
FREE CIX UPDATE
- Yello, ladies and gentlemen !
The Crypto Index (CIX) fell sharply on September 7
The RSI oscillator formed a bearish divergence on the 1D chart
CIX found the support at 274,881, which is the historical demand area
Right now, CIX is stuck between the support and resistance areas
The probability is in favour of further decline, potentially to test 200 SMA
If the 200 SMA and/or 274,881 support areas will be respected, the uptrend should be expected to continue in the long run
Alternatively, a further decline towards either 223,832 or even 162,299 might take place
To summarise, CIX has entered a consolidation phase, and we must see either break below the 200 SMA or break above 318,455 resistance area to confirm the validity either of a bullish or a bearish trend. Right now, probability favours a medium-term downtrend towards the bottom of the consolidation zone.
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