After breaking down from the rising wedge we see it retest the bottom of the wedge and failed. The target for this break out is the bottom of the wedge at around 48k-47.7k usd.
Currently it's testing support. Possibly to see a bounce here and continue the downtrend to 48k.
If it bounce from here we can possibly see a retest at 58.5k and consolidate within the white dotted lines.
That can be a sign of accumulation before the next push to new all time highs.
That's just what I think.
Cheers.
Currently it's testing support. Possibly to see a bounce here and continue the downtrend to 48k.
If it bounce from here we can possibly see a retest at 58.5k and consolidate within the white dotted lines.
That can be a sign of accumulation before the next push to new all time highs.
That's just what I think.
Cheers.