Very low volume, slow bounce attempt from oversold 15 min conditions.
Watching a double top at $5670 and a higher low pattern like an ascending triangle as we reach a flex point.
The pattern is close enough to a bear flag on the 15 min to watch for a breakdown back towards recent lows if the double top cannot break.
4 hour chart is trading sideways and allowing for a bullish MACD possibility later tonight.
Bulls are very cautious up here as we do not have many strong supports in the mid $5000s.
Watching a double top at $5670 and a higher low pattern like an ascending triangle as we reach a flex point.
The pattern is close enough to a bear flag on the 15 min to watch for a breakdown back towards recent lows if the double top cannot break.
4 hour chart is trading sideways and allowing for a bullish MACD possibility later tonight.
Bulls are very cautious up here as we do not have many strong supports in the mid $5000s.
Comment:
Note: $5670 resistance should read $5687
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