Option 1: Bearish. Sell the trend
The price after the big bearish momentum to the $ 4,000 area has been recovering to ($ 7,000) but it has done in a way that has been compressing more and in the form of a bearish flag
Entering from above is an option, the most risky but the most greedy. At the moment we do not propose it, for something like this we propose a...
We can see a nice upscending channel, where price is creating new higher lows & higher highs. I can see an opportunity to buy the uptrend in the 78.6 Fib level. This according to the 5th Elliot Wave. Let´s see!
CHFJPY is reaching a nice daily resistance level. In lower timeframes we can see that the current trend is losing power. And there are rsi & macd bearish divergences.
No volume, bearish trend.. I marked the important levels (7,671-7,123-6,626) if we broke the 7,123 level we should see a nice downward movement reaching our lower level.
XRPUSD jumped into a consolidation.. so lets see if we can get into the top of it again. So much confluences in this zone: 3rd touch of TL, price action, 78.6%Fib, RSI overextended bullish div..
On daily & lowe timeframes we can notice a nice bearish RSI/MACD divergence plus in W1 timeframe is just on the 78.6% FIB retracement with confluence on the 3rd tocuh of the WEEKLY trend. Swing position.
