Expect stronger support at the fibonacci levels and at the SOW's (purple lines), wait for the retracements to enter a short.
Most likely area for a bullish reversal is at $7000 - $6800
Most likely area for a bullish reversal is at $7000 - $6800
Trade active:
Sell volume is declining - which is bullish, but it looks rather like a retracement than a bounce to me.
Trade closed: target reached:
We can see an ascending triangle forming
and also considering the declining sell volume on the weekly
gives us a hint that we are close to the bottom.
I will wait for a breakout in either direction but I think that bears are getting more and more exhausted which gives bulls an opportunity to take control
I will wait for a breakout in either direction but I think that bears are getting more and more exhausted which gives bulls an opportunity to take control