I hope you managed to short the top as planned 👇
Besides $NEO, $THETA might also be at the top of its 6 months trend
There's a chance this will be the top of the 6 months uptrend, opens the door for a potential short to new lows High TF analysis below 👇
The weekly close will tell us more
Not sure if it's going to last very long though. The divergence on the 3D chart is quite ugly
If we keep moving up, then i'll be watching $418 (0.618 + horizontal SR). If we break $418, impulse down being wave C of a flat becomes more likely (new highs likely)
See previous analysis below 👇
We rejected 3 times $13. I don't see much reasons to be bullish on that as long as we remain under the EMA. Areas of support are underlined, potential scalp long entries / take profit areas on short.
At least as long as we stay below this red level at 874
Don't like to short this late, but the RR seems pretty good here
BNB is one of the coins which bounced the most, very close still to its high. Looks like a clean impulse to the downside and possible ABC up thereafter.
This last leg down: 1) Pretty much invalidated the hidden bullish divergence / made a lower low compared to previous one. 2) Broke a nice support trendline which is now a resistance 3) Doesn't seem to complete a corrective EW count (before this last drop it could be counted as 5 waves downs from the top <=> wave C of running flat). Overall i feel like if BTC...
Cardano, which has been leading the way during the uptrend, is now displaying serious signs of weakness. Is it going to lead the way of the downtrend ? It might be time to be careful with the "buy the dip" mantra. Take care