Forgot to elaborate on my last post with the break out from the falling channel. There is so much resistance up to 45k. Slight pullback to trap longs then rebound to previous range lows, downward trend line from the top, and the 20 week moving average. Daily close is looking pretty bearish and possible rejection from the range highs. If we remember April/May the game was to trap as many longs/shorts as possible. This is why I think we will rebound into 43-45k to trap late shorts.
Remember dead cat bounces are typically 50%. Depending if you use the 30k range low or include the wicks as a low at 28k. That puts the 50% dead cat bounce at 42-45k. Also RSI and Stoch RSI are rounding as well.
Remember dead cat bounces are typically 50%. Depending if you use the 30k range low or include the wicks as a low at 28k. That puts the 50% dead cat bounce at 42-45k. Also RSI and Stoch RSI are rounding as well.