So, as we come to the end of an emotional week for some ( Levergaged traders mostly) , we are beginning to see what could happen next.
The Pre-Halving Dip has occured and we need to see maybe how far this Will go.
For me, tha Max Drop is to 58K, which is a -20% drop from the High, and is likely to be reached just at the Halving date, while PA sits on that Fib circle.
PA has fallen below the 236 Circle ( red) and may struggle;e to brealk back over just yet...but that could happen at any time.
The Daily MACD has just turned Bearish and needs to rest to at least Neutral before we can see any significant move higher.
The RSI Has Fallen but is not OverSold and so needs to drop further.
And Yet, the Bullsh sentiment continues.
The DMI is also telling us that a change is required right now.
The ADX, (Yellow) is up high and usually, from here, will show a change in trend.
And we need to watch the DI + (orange) is that crossed below the 20 line ( dashed limne) that signals Bearish strength
All to play for Next 7 days
The Pre-Halving Dip has occured and we need to see maybe how far this Will go.
For me, tha Max Drop is to 58K, which is a -20% drop from the High, and is likely to be reached just at the Halving date, while PA sits on that Fib circle.
PA has fallen below the 236 Circle ( red) and may struggle;e to brealk back over just yet...but that could happen at any time.
The Daily MACD has just turned Bearish and needs to rest to at least Neutral before we can see any significant move higher.
The RSI Has Fallen but is not OverSold and so needs to drop further.
And Yet, the Bullsh sentiment continues.
The DMI is also telling us that a change is required right now.
And we need to watch the DI + (orange) is that crossed below the 20 line ( dashed limne) that signals Bearish strength
All to play for Next 7 days