the Daily chart is showing bearish divergence between the price action and a variety of volume oscillators. In simple words , it mean that the bullish volume is fading away and the bears are entering the market for correction. According to the weekly chart, this correction is not going to be huge but it is a good entry point for long positions. Yet it is a good attempt to break the bearish trend line but this volume can not make it.
Note
The drop for 10000 happened just like my analysis predicted it. Spot on
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.