Although we rallied over 30% over the last 2 weeks we are still in bearish territory as we couldn't break out the 42600 range and close above it on Daily chart. However, assuming this momentum continues, what we are having is a healthy pullback. To continue this rally, it needs to bounce off from 37k, where the strong support and .618 fib level stands. When this 42600 key level is broken, we could see an upside resistances at 46k and 50k range. If this level don't get broken, we are seeing another buying opportunities at 33k, 29k, and 20k area.
Comment:
Waiting for a bounce off from 37500 otherwise expecting more downside
Comment:
Monitoring the actions for now, price action went exactly as I planned. Next couple days will deciding factor on whether we break 47k and test 50k or pull back to 42k range