TF: 6 Hr
Price has made a nice correction of the recent impulse move down to ~$17,100. Price has recently been rejecting the 0.786 retracement of the move down. The 0.786 retracement also aligns with the POC of the impulse move down. Price could be setting up for a correction or price could also be setting up for another impulse move down, however, I think at this point a correction is more likely.
Price has made a nice correction of the recent impulse move down to ~$17,100. Price has recently been rejecting the 0.786 retracement of the move down. The 0.786 retracement also aligns with the POC of the impulse move down. Price could be setting up for a correction or price could also be setting up for another impulse move down, however, I think at this point a correction is more likely.