Would it be a "goodbye" or a "goodbuy", that is the question ?
We should get the answer quite soon :-)
Indeed, looking at the weekly picture, a double top formation is in progress and the price action
seen over the last three weeks (following the rally from 40'000 towards 63'000) is showing some lack of
momentum, uncertainty and indecision, confirmed by a...
H4 : The breakout of the former tactical downtrend @ 47280 (see previous post)
triggered this long bullish white candle which briefly broke the former high @ 49000
with an intraH4 high @ 49361 !
So what now ?
Last H4 price action is showing a potential double top formation in progress !
In addition 3 of the 4 technical indicators...
H4 : Last candle triggered as shooting star coupled with a potential double top in progress.
In addition indicators are also in divergences process
Watch : 36477 (TS), 35300 (MBB) and 35280 (KS)
35300 should be seen as a very important support area in this time frame
Failure to hold above it would open the door for :
S1 :35002
...
