After that, I can see some resistance from fib ret. level and the two horizontal trendlines.
In regards to the negative correlation to oil, watch for price drops in oil as well.
SPX just dropped below the trend line again. This time its done.
Bitcoin can't make it past its high before the recent drop. At same time, eth will form a double bottom. since btc is very likely fail to get past 424.xx, it will drop below ~410 and therefore ETH seems a good hedge for now. SL on both trades, can be placed above 424.xx (high before drop) and on the eth side slightly below 0.020. Good entry positions with good tight SL.
For a confirmed change in trend, it has to go over 0.02420. Otherwise testing if 0.02000 holds.
1st target 2k, then maybe lower
After last sessions strong action and technical pattern, I'm expecting some price drops. It looks like its forming an H&S. The recent dip was clearly lower than the left shoulder and also the current top is lower than the left shoulder. There is also the horizontal trendline @ 38.36 which wasn't breached yet and with some uncertainties about the trend and...
looking for bottom trend line testing
scale in shorts between here and 37.90. target ~33 maybe lower
Looking for a big leg up in the coming days/weeks.
I think we see at least a few points more down, before a first good bounce/retrace.