Expect stronger support at the fibonacci levels and at the SOW's (purple lines), wait for the retracements to enter a short.
Most likely area for a bullish reversal is at $7000 - $6800
Most likely area for a bullish reversal is at $7000 - $6800
Trade active
Sell volume is declining - which is bullish, but it looks rather like a retracement than a bounce to me. Trade closed: target reached
We can see an ascending triangle forming and also considering the declining sell volume on the weekly
gives us a hint that we are close to the bottom.
I will wait for a breakout in either direction but I think that bears are getting more and more exhausted which gives bulls an opportunity to take control
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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.