The Pettecin markets retreated during Friday's trading with the end of the week, as we reached $ 4200 during the recording of this analysis. The market has a great deal of psychological and possibly structural support at the $ 4000 level, so I would not be surprised if we got a bit of consolidation from here. In general, I believe that advances should be sold and it is difficult to imagine a scenario where purchase can be maintained. Frankly, there is nothing in sight to support this market.
If we can break below the $ 4000 level, this opens the door to $ 3,500, and possibly $ 3,000 later. Not until we break above the 50 day exponential moving average at the daily closing until I think of buying this market, which at this point will be about 50% gain. In other words, I think the bubble continues to shrink and we will reach much lower levels.
The biggest problem I'm currently seeing with Petkwin is that no one uses it. In other words, there will be no demand and it is rather frightening to see how many people think this is a kind of conspiracy to reduce their value so that whales can enter the market and buy them cheaply. This suggests that people who traded in the market up to the $ 20,000 level are somehow smarter than the rest of the traders. All you have to do is look at the chart and realize how intelligent you should be in order to ride with the market from $ 20,000 to $ 4,000.
I recently read articles that indicate that even when the market was moving sideways, the fabrication simply was not used as a payment method. I think that the myth has faded, and will not be a mediator for financial transactions. Selling all the advances continues as a way to deal with the market in the front, at least from my point of view