Hey Guys,
Following up on yesterday analysis.
Bulls failed to close a 12 hr candle above 12k and as a consequence we had a false breakout of the upward channel so a retest of 11.6k (green box) its very likely
In my opinion we are currently in a ABC correction that should lead to a wave 5 in to the 12.5k area.
As for now the price action seems to me more towards bearish side, indicators are currently pointing down and the adx its currently very low on the 4hr signaling we haven't seen the bigger move yet
Following up on yesterday analysis.
Bulls failed to close a 12 hr candle above 12k and as a consequence we had a false breakout of the upward channel so a retest of 11.6k (green box) its very likely
In my opinion we are currently in a ABC correction that should lead to a wave 5 in to the 12.5k area.
As for now the price action seems to me more towards bearish side, indicators are currently pointing down and the adx its currently very low on the 4hr signaling we haven't seen the bigger move yet
