Dear trading enthusiast,
Price action in the coming days is rather important for determining the overall direction in the coming weeks and months.
Looking at the current trend:
- Price is contracted in a falling wedge (green) and testing the bottom of the yellow channel.
- RSI is printing hidden bearish divergence.
I expect to see price brake out upwards out of the falling wedge (green) and re-test the upper resistance (blue) shortly after.
A closure (on the weekly) candle below 8000 would be rather bearish (short-term) and require a new analysis.
TheNDK
*** This post is for your entertainment only and not trading advice ***
Price action in the coming days is rather important for determining the overall direction in the coming weeks and months.
Looking at the current trend:
- Price is contracted in a falling wedge (green) and testing the bottom of the yellow channel.
- RSI is printing hidden bearish divergence.
I expect to see price brake out upwards out of the falling wedge (green) and re-test the upper resistance (blue) shortly after.
A closure (on the weekly) candle below 8000 would be rather bearish (short-term) and require a new analysis.
TheNDK
*** This post is for your entertainment only and not trading advice ***