See the massive divergence marked with dotted lines on RSI. This signals the following things: - Reversal to the upside from our current posture - Likely prolonged sideways action in between 9.5-10K levels
This being said, we don't have a bullish resolution of the current situation. Bearish signs: - We are under major EMA on 4 H - We have unresolved death cross on 4 H. 50 and 200 EMA are further diverging from each other - MACD cross to the downside on weekly - RSI on weekly dipping under 60 zone
Bullish signs: - Bullish divergence on the chart - Strong EMA resistance levels on daily and weekly. - Visible signs of bearish trend exhaustion
Note, if we close 4H price action under 9290 level we most likely signal a rapid continuation to 8.9 and 8.5 levels.
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