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Since the price is fixed below the strong local resistance level $ 0.16130, it is likely that the price will continue to fall to the nearest liquid zone $ 0.14500 - 0.14800. In this zone, most likely buyers will buy. Decrease is confirmed by a falling candle with a shadow on top and a high volume.
Therefore, it will be possible to open a short position.
But if buyers fix the price in the near future above the local resistance level of $ 0.16410 (unlikely), then the price will rise to strong local resistance level of $ 0.17536.
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Since the price is fixed below the strong local resistance level $ 0.16130, it is likely that the price will continue to fall to the nearest liquid zone $ 0.14500 - 0.14800. In this zone, most likely buyers will buy. Decrease is confirmed by a falling candle with a shadow on top and a high volume.
Therefore, it will be possible to open a short position.
But if buyers fix the price in the near future above the local resistance level of $ 0.16410 (unlikely), then the price will rise to strong local resistance level of $ 0.17536.
_________________________________________
This analysis and more in our Telegram channel.
Also, don't forget to visit our profile.