Bearish View:
Levels to watch if breakdown happens:
8350-8750 range
7150-7650 range
- Weekly MacD is turning bearish
- Weekly RSI has still a way to go until 54 which was the lowest in the last Bull Market
- Clear descending Triangle on Daily and 4h which is likely to break to the downside with it's 3rd or 4th retest
- Lower Highs since 14k
Levels to watch if breakdown happens:
8350-8750 range
- 0.5 Fib Retracement
- 21 Weekly EMA will probably act as resistance in that area
7150-7650 range
- 0.618 Fib Retracement
- 50 Weekly EMA will probably act as resistance in that area