By closing below the body of the previous candlestick, the 1W red candle confirmed the last hangman. Moreover, we are still experiencing RSI above the 70 level, after reaching its ATH. Historically, it always leads to a pullback toward the 30-70 zone. It is pretty rare, that this candlestick formation is followed by further growth (didn't happen on BTC peaks yet), so deepening of the pullback is even more plausible right now than one week ago. Since this signal is very obvious, I expect a small earthquake here, even toward the realm of 50% of the entire impulse, considering it started in March 2020 (green zone, 23-26k) at some moment, and further even the deeper towards 2017 all-time high, but no further than 16k (based on retracements). Both these zones seems to provide good long opportunities
Before it will happen, I'd expect an attempt to see last bullish attempt, since on 4h chart we encountered a hammer supported ith low RSI and high volume. More or less at the top of last week wick, the show supposed to start
Before it will happen, I'd expect an attempt to see last bullish attempt, since on 4h chart we encountered a hammer supported ith low RSI and high volume. More or less at the top of last week wick, the show supposed to start