1st off watching closing the 20 week MA, will pave way for $6400 after that it'll retest previous lows.
Support : @ $6400 and $3850 after that $2400
The 2 day selling Volume is similar to June 2019, that was a 64% from that time to trough (Give or take).
More times than not when the stochastic RSI has been overbought and comes out of it, it gives you a warning 2 days prior to sell (on the 2day chart), the warning is not to sell straightaway but 2 days after the warning. The Linear Regression down-trending while the price hit the upper Line.
We also have a double top. I am hoping we hold $6400 or my prediction from 2 years ago of $20k in September 2020 will fade away very quickly.
On the positive last week weekly chart gave us a very good indication the bulls are strong, Praying they aren't lagging indicators this time around.
Until next time take care, this is based on my view on how I read the charts
Support : @ $6400 and $3850 after that $2400
The 2 day selling Volume is similar to June 2019, that was a 64% from that time to trough (Give or take).
More times than not when the stochastic RSI has been overbought and comes out of it, it gives you a warning 2 days prior to sell (on the 2day chart), the warning is not to sell straightaway but 2 days after the warning. The Linear Regression down-trending while the price hit the upper Line.
We also have a double top. I am hoping we hold $6400 or my prediction from 2 years ago of $20k in September 2020 will fade away very quickly.
On the positive last week weekly chart gave us a very good indication the bulls are strong, Praying they aren't lagging indicators this time around.
Until next time take care, this is based on my view on how I read the charts
