After being rejected from 8300 $ area twice. It's looking like a 'potential' double top formation forming in 4 hour and currently is still undecided.
while similar chart with different for 1 day chart with mixed signal so far leaning to bearish side.
what i mean by mixed signal is due to divergence not quite rhyme yet.
MACD is still have a moment to expanding although it's already give a signal that it will shifting it's volume to downside
RSI is manage to reach a similar top since previous high while it's currently in oversold area
CMF is already bearish divergence sighted
personally i expect a retracement to EMAs Line as a possible support area.
50 EMA = +-7200 $
200 EMA = +- 6300 $
currently it's still consolidating around 20 EMA in 4 hour. we will see what happen.
keep in mind this impulse movement is quite parabolic/rapid. a corrective movement also might has a similar force to downside.
please take this idea as a grain of salt as reality always differ from what i expect as this post merely just an opinion.
and please feel free to share what your thought on comment section.
peace.
while similar chart with different for 1 day chart with mixed signal so far leaning to bearish side.
what i mean by mixed signal is due to divergence not quite rhyme yet.
MACD is still have a moment to expanding although it's already give a signal that it will shifting it's volume to downside
RSI is manage to reach a similar top since previous high while it's currently in oversold area
CMF is already bearish divergence sighted
personally i expect a retracement to EMAs Line as a possible support area.
50 EMA = +-7200 $
200 EMA = +- 6300 $
currently it's still consolidating around 20 EMA in 4 hour. we will see what happen.
keep in mind this impulse movement is quite parabolic/rapid. a corrective movement also might has a similar force to downside.
please take this idea as a grain of salt as reality always differ from what i expect as this post merely just an opinion.
and please feel free to share what your thought on comment section.
peace.