I posted this chart yesterday, and here is a follow up about the red line - price made a lower low yesterday. It has tested the red line a few times and cannot close over it.
RSI has not tested 50 yet, so price could go up again but that red line resistance matters.
There are more bearish signs on the hourly chart and price could head lower by about 5k, to the lower green line on chart. An hourly close over 51,100 is the first thing you should look for if you want to trade long. Look for a higher low and higher high.
RSI has not tested 50 yet, so price could go up again but that red line resistance matters.
There are more bearish signs on the hourly chart and price could head lower by about 5k, to the lower green line on chart. An hourly close over 51,100 is the first thing you should look for if you want to trade long. Look for a higher low and higher high.