We have a slow descending wedge were everyone can feel we are not going to break to the downside any time quickly. I have demonstrated the next micro level move including the correlation with the RSI supporting the thesis.
As for the Macro Level, I have a few scenarios in mind and maybe I'll post them when I have the time.
Note: At the macro level, if we break below the 0.382 fib level, then we can assume we will go down to the 8K range and fill in the CME future gap.
30 Min. chart
Overall view
Weekly chart I do feel we will test the 20 EMA on the weekly WHY?
Daily chart
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Sometimes you hit luck. Would you believe it, on Binance, the bottom of this wick was my order filled, to the cent, 9953. I'm not saying all my orders were at this price but they did range in the 9900s.
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Wedge more defined and 10K will be retested
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Whales just wrecked all the stop limits with this wick. I should have expected it.
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Now it makes sense why the price keeps dropping... many made the mistake including me.
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I don't believe it, but this is a fluke. Before After
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Other confluences..The pitchfork channel fib.lines have been accurate most of the time.
Trade closed: target reached
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On the fist chart above, the RSI has ht hit the critical level which I indicated with the red region.Also note, how confluence is with the fib. pitchfork. Second chart, upward wedge, hitting resistance levels which have confluence with the fib.fan and pitchfork fib. channel. Hence the reason for selling.
Bro! Too messy on the first chart, cant see whats going on!
ssari
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@FollowTheCoin, thx for the feedback. Sometimes I forget I have a large screen. Also you know that by clicking on the - or + sign, in the chart, you can zoom in as well as move the chart to any direction you please. Plus I did some other shots to make up for the overall messy look. Again thx for your comments.