This is a very simple chart. I have the downtrends in red rectangles, BBands, and the RSI. RSI is at a 90 day low on the 4H (24), indicating that our drops have been quick and volatile. I'm expecting an upwards correction with the price target completely dependent on volume.
Whenever we do bounce, I expect it to be similar to our drops: very strong and very fast.
Pushed out further, I expect this week to close red, but I believe if $7,400 and $7,600 hold, we have a moderate chance at closing above $8,000.
Whenever we do bounce, I expect it to be similar to our drops: very strong and very fast.
Pushed out further, I expect this week to close red, but I believe if $7,400 and $7,600 hold, we have a moderate chance at closing above $8,000.