ARE WE GOING TO BOUNCE?
No update on the bullish path from yesterday a bounce here will look to confirm a bullish H/S pattern and see a strong challenge of breaking the key $33k resistance.
Losing the $32.2k here though could be devastating though - and a quick fall to $31.5k and then just losing support after support to $30.1k
There has been a pretty tight consolidation since the rejection from $33k which suggests a big move incoming.
We need to get above $33k to have any kind of foothold so right now it is bearish short-term still.
My play is to long to $33k and then use a tight stop-loss - if we break $33k then an ambitious target of $34k.
Losing $32.2k then targets are $31.5k , $31.3k and then a stretch to $30.3k.
