Everything that needs to be said is in the chart, except the possible run towards the 9K before taking path 1. Path 2 is also possible, just less likely. Path 3 is possible but not very likely, IMO.
Currently, rejection on top of triangle is most likely scenario. RSI on the daily (not shown on chart) is overbought and TD Sequential indicator on the daily (not shown) has formed a red 9, so it's not surprising. We will at least have some pullback, if a proper dump is avoided.
We'll have to wait and see how strong are the bulls. do they have enough fuel to maintain the rally they've had for the past few weeks or will the bears take over from now? It seems more reasonable to expect a dump in the next couple of days, but surprises abound in crypto. Closing above $10500 would mean we're going to moon.
For the time being, I'm planning on shorting around the 9K mark, if not before then.
Cheers!
Currently, rejection on top of triangle is most likely scenario. RSI on the daily (not shown on chart) is overbought and TD Sequential indicator on the daily (not shown) has formed a red 9, so it's not surprising. We will at least have some pullback, if a proper dump is avoided.
We'll have to wait and see how strong are the bulls. do they have enough fuel to maintain the rally they've had for the past few weeks or will the bears take over from now? It seems more reasonable to expect a dump in the next couple of days, but surprises abound in crypto. Closing above $10500 would mean we're going to moon.
For the time being, I'm planning on shorting around the 9K mark, if not before then.
Cheers!