Here i share some ideas for both bulls and bears depending on the closure of the daily and next few four hour candles.
We've seen a break of the trend ascending trending line and bearish symmetrical triangle with retests of both at the same level as resistance. If we keep decelerating as we test these levels and close below resistance, ill be looking to short to $6800.
However, if we break this resistance in the next day or so, with some engulfing bulls its likely that it will confirm wave 5. In this case $8000 will defo be a target where we perfectly meeting the 0.618 fib retarcement for the pullback on a higher time frame.
We've seen a break of the trend ascending trending line and bearish symmetrical triangle with retests of both at the same level as resistance. If we keep decelerating as we test these levels and close below resistance, ill be looking to short to $6800.
However, if we break this resistance in the next day or so, with some engulfing bulls its likely that it will confirm wave 5. In this case $8000 will defo be a target where we perfectly meeting the 0.618 fib retarcement for the pullback on a higher time frame.