/biz/ - Business & Finance

Yesterday evening the price was getting squeezed between an uptrend and the top of the consolidation box. A significant move was bound to happen. There was a massive dump (70% of the 1h candle volume happened in ~2 minutes) and the uptrend switched to a downtrend.
We're now trading below the consolidation "box" for the last 4 hours. the previous support at .60 seems to have turned into a resistance and is preventing price to get back in the "box".
Soon we'll be arriving at another crossing this time between the bottom of the consolidation box and a previous downtrend. If the price is unable to cross back over, we might be heading for a downtrend for a while.
I think we'll know within the next 4-5 hours.