#CreatorPad The daily chart shows a big green bar on July twenty six and then a string of red bars on each day after. The green bar marks a sharp buy wave and then a long fall. Each candle tells a part of this move and the line is clear down.

Market analysis shows the price sitting below EMA five and below EMA twenty. The EMA fifty is also above price and this points to a down path. A break above EMA twenty could hint at a pause and a break above EMA fifty could signal a new up move.

Volume stands at three hundred ten million today and the five day average sits near one hundred twenty million and this spike shows strong sell force and weak buy force so far.

The Fibonacci map from the July twenty six high at zero point two one one one down to the low at zero point zero zero four gives key marks at zero point zero five three near the twenty three point six level and at zero point zero eight three near the thirty eight point two level and a bigger pull to zero point one three two near the sixty one point eight level.

The MACD line sits below its signal line and the bars are all on the negative side and the RSI rests near twenty. This mix shows a clear bearish mood but the RSI reads the coin as oversold and this can bring a small bounce.

The view ahead looks lower first and then sideways near the low. A rise past the fib level at zero point zero five three can hint at a test of the next mark at zero point zero eight three. A true turn needs a daily close above zero point one three two and a move past EMA fifty.

A simple trading plan asks for small size on a dip near the low and a stop just under the recent low. A clear buy signal comes as a green candle above EMA twenty and a break of the fib level at zero point zero five three. A second chance buy can come at the fib level at zero point zero eight three.

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Author:

DanaNeerM