- Potcoin price declined and broke the highlighted channel support area to trade lower.
- The price traded close to the last swing low of 0.00000259BTC and looks set for more losses.
- A new low might be created by sellers if there is a divergence created on the hourly RSI.
Potcoin price moved lower and it looks like sellers might attempt to create a new weekly low in the near term.
We forecasted a break in the Potcoin price below the highlighted channel support area. There was a break, as sellers stepped in for a downside move. The price declined and traded close to the last swing low of 0.00000259BTC. The price is trading below the 100 hourly simple moving average, which is a bearish sign and could ignite more losses in the short term. We need to see how the buyers react around the last low and whether there is a break or not.
There was a perfect failure around the 38.2% fib retracement level of the last drop from 0.00000370BTC to 0.00000259BTC. It also means that the price completed a short term correction and might