A question for traders
The drop we saw last night meet a stiff buy up. There is some resistance at 28k so far. But on the 15m chart a reverse head and shoulders looks to be forming. Also, the trendline starting from the drop Friday May be supporting the price, which is also the 20 period on the hourly Bollinger. But i see that the daily RSI has made a huge reverse head and shoulders over the last month and is still really low currently. But the MACD looks about to cross. Then there are the fundamental factors we can all see on the news.
I guess my question is what does it all mean? 😅
There are so many confliction signals. I was expecting a rally to 35k, rejection at previous support area, then a fall to 25-20k. Then last night i scratched that. But now I'm seeing that big reverse head and shoulders on the daily rsi and the smaller one in the hourly and I'm confused.
Can anyone with more experience explain?
I guess my question is what does it all mean? 😅
There are so many confliction signals. I was expecting a rally to 35k, rejection at previous support area, then a fall to 25-20k. Then last night i scratched that. But now I'm seeing that big reverse head and shoulders on the daily rsi and the smaller one in the hourly and I'm confused.
Can anyone with more experience explain?
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