We are going to be oversold on all time frames very quickly from these levels.
Daily, 4 hour, hourly, 15 min, and 5 min all with RSI in the 20s means look for another bounce entry.
Bulls that have been locking in gains on the bounces continue to have opportunity to do it again and again.
Bears have also been enjoying easy gains with a lack of any bull follow through.
We will be watching for a potential volume climax on a break of $7,500
But the longer it takes the break, the more the shorter term RSI levels can potentially cool off.
Daily, 4 hour, hourly, 15 min, and 5 min all with RSI in the 20s means look for another bounce entry.
Bulls that have been locking in gains on the bounces continue to have opportunity to do it again and again.
Bears have also been enjoying easy gains with a lack of any bull follow through.
We will be watching for a potential volume climax on a break of $7,500
But the longer it takes the break, the more the shorter term RSI levels can potentially cool off.
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