I think that
- from 9950 to 7000 that was a set of 9 wave(with 5th extention).
- now it's the corresponding retracement of that 9 wave.
- they are 1,2 wave of big C wave to 5000.
- stochrsi is overbought.
- 1D chart rsi(hlc3) is already 45, which is big resistance in such bear market.
conclusion: price may drop from 7800 hopefully.
- from 9950 to 7000 that was a set of 9 wave(with 5th extention).
- now it's the corresponding retracement of that 9 wave.
- they are 1,2 wave of big C wave to 5000.
- stochrsi is overbought.
- 1D chart rsi(hlc3) is already 45, which is big resistance in such bear market.
conclusion: price may drop from 7800 hopefully.
Comment:
now raising wedge is forming, which indicates small price rise then drop
Trade active:
support reached
Comment:
rsi 45 strong resistance
rsi 45 strong resistance
Trade active
Comment:
4th wave in wave C is nearing end