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During last weeks price was falling sharply and drawing a channel which just was broke in the upside, now price have retested the channel as we can see the support structure is holding well
we can enjoy this opportunity to buy from here and aim for point 3 of EW theory. at this level it will be important to take most of the profit and wait for a small retracement...
There is an obvious double top about to be drawn on chart, it is confirmed by a huge bearish divergence on macd.
If you are already invested, you may be interested to take some profit from your position and short from here since it is the optimal time to short.
then when price will break neckline an other short entry will be possible
this is just my opinion, you...
As we can see a butterfly pattern was formed(this is a major trend reversal figure) and the price failed to maintain above new support.
therefore sellers must have take control over price action. Now buyers must close at loss, for those entering at the break of ATH. or take their profit, for those who entered at a lower level.
this will push the price to fall...