As I mentioned in previous publication we are still in bearish market which can be explained like big correction after this years high. Looking for correction (dead cat bounce) after last two days downtrend and testing lowest level of channel and main support level of USD6,000. if we will brake it down, next stop will be on USD5,500-5,000-4,000 respectively.
Trade closed: target reached:
As we see price was jumped up from the main support level after it made new lows. Looking for up trend till 7,400. And if we will brake this resistance, looking for 7,800-8,000. After that will check new trend. Still thinking that we can make new lows.
Comment:
All eyes on upper resistance line. If we will brake it up and next candle after braking will close higher that line I will be bullish.