For all those asking if this is the bottom; the answer is likely no.
There is clear hidden divergence (higher high on indicator whilst higher low on price, in a downtrend) which is bearish.
This is the point at which the bulls are putting up resistance, as can be seen from the preceding long wicks that bulls have managed to push back up.
However, at some point the RSI indicator predicts that the bulls will run out of steam and the downtrend will continue.
For those looking to buy in, there will be another leg down so I would wait patiently.
I don't think it's worth shorting at this point, as most of the downside appears to have been made.
There is clear hidden divergence (higher high on indicator whilst higher low on price, in a downtrend) which is bearish.
This is the point at which the bulls are putting up resistance, as can be seen from the preceding long wicks that bulls have managed to push back up.
However, at some point the RSI indicator predicts that the bulls will run out of steam and the downtrend will continue.
For those looking to buy in, there will be another leg down so I would wait patiently.
I don't think it's worth shorting at this point, as most of the downside appears to have been made.