We can se the false Breakout of the previously mentioned 61.80% fib level at 8167$ that now is again a resistance level.
RSI is in a possible reversal zone, and the price could be forming a Head & Shoulders pattern.
Multiple 4h close under 8167$ could lead to a retracement.
The target of the short term bearish retracement could be 7607$ that is 50% fib levele of the last bullish movement, a price resistence zone and where MA50 (4h) is
RSI is in a possible reversal zone, and the price could be forming a Head & Shoulders pattern.
Multiple 4h close under 8167$ could lead to a retracement.
The target of the short term bearish retracement could be 7607$ that is 50% fib levele of the last bullish movement, a price resistence zone and where MA50 (4h) is
Note
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Related publications
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.