First bear flag led to a perfectly estimated drop to 6.8k.
Now a new bear flag is forming. The recent volume is high but insignificant to be a signal for a reversal. Prepare for another drop at least to 6.2 - 5.8k.
Now a new bear flag is forming. The recent volume is high but insignificant to be a signal for a reversal. Prepare for another drop at least to 6.2 - 5.8k.
Comment:
For aggressive entry, buy above 7316 if the next four-hour volume is also significant (almost equivalent to the current 4-hour-volume).
Comment:
On the bright side, RSI is near-oversold. The daily chart RSI is also quite close to a reversal.
Personally would not expect a substantial drop below 6k for that reason alone (with the increasing FOMO at 7.2k and also 6.6k), though, patience would be preferred for conservative buyers.
Personally would not expect a substantial drop below 6k for that reason alone (with the increasing FOMO at 7.2k and also 6.6k), though, patience would be preferred for conservative buyers.
Comment:
Still need a lot more volume to confirm a reversal.
Comment:
And we are going down.