an inverted Head and Shoulder (line black) could be potentially under development if price action reverse decline fastly and confirm with volumes pick up in the possible right shoulder. Direction: 12 dollar neckline zone then probable break out.
I drowed also another short term development (line red) alternative to inverted HS with prices decling further and reaching strong demand area in green zone 9-10 dollar
for now RSI is still above its mean so still bullish but it needs a good price action in the very near term to stay long ..
I drowed also another short term development (line red) alternative to inverted HS with prices decling further and reaching strong demand area in green zone 9-10 dollar
for now RSI is still above its mean so still bullish but it needs a good price action in the very near term to stay long ..
Comment:
if 9.5- 10 $ did not hold then 7,5 could be well next target in the short term.