Strong bounce from the lows into ~80k, but price is now running into resistance and showing signs of slowing down.
This looks like a classic weekly pullback into a bearish trend, with momentum fading and sellers likely to step back in.
If this rejection holds, we could see continuation lower, targeting the ~71.5 k area before going up again.
If price reclaims and holds above ~82k, then this idea is invalid.
This looks like a classic weekly pullback into a bearish trend, with momentum fading and sellers likely to step back in.
If this rejection holds, we could see continuation lower, targeting the ~71.5 k area before going up again.
If price reclaims and holds above ~82k, then this idea is invalid.
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.