It might seems like, that we are ready again for another move upwards and the correction ended. But in my opinion it is not the case.
If you have a look on the fibbonachi, you can see that we pulled back to the 0.382 level which is quite important. 8k also acts as a psychological resistance.
The VPVR also shows resistance and I drew a black trendline which is also a resistance. The last thing is the very overbought 4H stochastic RSI.
If we take all these informations, I think it is more likely to break downwards, to our first target range: 7k-6.8k.
***It is not a financial advice, it is only my opinion.***
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Seems like the 0.382 fibb acted as resistance and we are reversing, everything looks nice, I'll keep you updated
yeah good arguments. just wondering if it still fo until 8.2k
KryptonuQ
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@SkyBottom, Even if it does it will be very short lived, I do not think it is a good idea to go long for that few percent gains, cause it could drop any time too.