BTC just attempted a corrective dump after a double top near strong resistance up at 9k, and recovered surprisingly fast.
The dump didn't even make it down to the common 236 fib before receiving a strong bounce on the 382 above it, and then clearing over the 618. The 15m RSI didn't even touch the 30 line during the dump, let alone the 30m RSI. This has the signs of an immediate recovery after what should have been a much steeper drop following a long ride up to a solid double top at major resistance. The bulls are back in town; looks like its finally not just bots boosting an uncertain market.
This could mean we won't be seeing a deep correction to an inverse head n shoulders, but might form yet another cup n handle to break resistance up to test 10k. However, things change fast in the crypto space so we'll have to see.
The dump didn't even make it down to the common 236 fib before receiving a strong bounce on the 382 above it, and then clearing over the 618. The 15m RSI didn't even touch the 30 line during the dump, let alone the 30m RSI. This has the signs of an immediate recovery after what should have been a much steeper drop following a long ride up to a solid double top at major resistance. The bulls are back in town; looks like its finally not just bots boosting an uncertain market.
This could mean we won't be seeing a deep correction to an inverse head n shoulders, but might form yet another cup n handle to break resistance up to test 10k. However, things change fast in the crypto space so we'll have to see.