Now, in the case of the TA, the price will consolidate between the primary resistance and support lines, depending on which one is broken the price will follow pursuit. I expect that the price is going to break through the first resistance and head onto the second one, where we will see a period of consolidation as this is a (more people selling then buying), if we can sustain the momentum here we could be a retracement back to $15,000 levels. In the worse case scenario, if both support is broken then yes, we could potentially see a short and quick drop to the $8,500 range.
- MACD - Not added to this analysis as on the timescale it was not showing any relevant indications that you want to take into consideration.
- RSI - Not added to this analysis as on the timescale it was not showing any relevant indications that you want to take into consideration, however, it was nor oversold or overbought but was still circulating in the higher section which usually is a bit .
- Orange - Resistance.
- Pink - Support.