It seems the price has reached a mid-term (1-4 months) top, and I believe we are still in a bearmarket. Why i believe this is explained below.
To determine a trend reversal I mainly use analysis, which forms a good basis to find out which way the market is headed. If one looks at the 3day chart, it seems that the last candle is forming what is called a candle, a signal which most professional traders recognize, meaning they will act upon it. Such a is followed by a bigger red candle, which should fall under the low of the current candle. The next 3day candle starts this thursday, meaning only tomorrow is left to form the .
In addition to the above, the 12 hour chart presents two red candles, the first one closed below the previous low and was followed by another red candle. this is a confirmation of a trend reversal (this candle stick pattern is called dark cloud cover)
Time to open shorts again......
Good luck to all!