Market volatility dries up as price approaches the all-time high
Out of the three scenarios posted last time, the first one is playing out
Price is shaping an Ending Diagonal in the final wave up, which should at least retest the record high around $4,400 to complete a full five-wave sequence
Meanwhile, RSI did not build the same bullish momentum and is showing early signs of bearish divergence against price
This confirms that the current move is likely the final wave up and also warns of a possible reversal after price retests the record high
Minor support is located at the previous low around $3,901
Typically, the valley of the larger wave 4 contains the first drop in the event of a reversal
This major support is located near the $3,300 level
Let’s see how price behaves around the all-time high first
Out of the three scenarios posted last time, the first one is playing out
Price is shaping an Ending Diagonal in the final wave up, which should at least retest the record high around $4,400 to complete a full five-wave sequence
Meanwhile, RSI did not build the same bullish momentum and is showing early signs of bearish divergence against price
This confirms that the current move is likely the final wave up and also warns of a possible reversal after price retests the record high
Minor support is located at the previous low around $3,901
Typically, the valley of the larger wave 4 contains the first drop in the event of a reversal
This major support is located near the $3,300 level
Let’s see how price behaves around the all-time high first
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Похожие публикации
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Информация и публикации не предназначены для предоставления и не являются финансовыми, инвестиционными, торговыми или другими видами советов или рекомендаций, предоставленных или одобренных TradingView. Подробнее читайте в Условиях использования.