Currently the analysts are pointing at a H&S in the hourly charts. But if you look even closer at the 15 min there is actually a second one forming. Weekly is WAY overbought so I think its going to reach the weekly support on this drop down. Shortly after we could see a balance from the oversold daily chart and it will bounce back up to maybe the 9k level. That...
June is going to be a VERY Bearish month. Ride the waves carefully with tight stop losses because we could see the 5-4k range again. If it closes the daily above 9200 we could see the last pump in the next week. But this thing is coming down in the long term.
It’s just about to be overbought on the RSI and it’s got a lot of room to go down. Granted it’s just after the halving and a second stimulus may be on the way. But I think we will have ourselves one massive bear before a great bull run. Small change that it could go up to 10k like everyone would like but it’s having trouble with the first daily resistance point.
Morning Star in the 2 hour chart lines up with the daily chart uptrend. Daily is still in Bollinger band squeeze so this could be the breakout for the bulls.
Got a sqeeze in the hourly with a bullish trend and a breakthough of the bollinger bands moving upwards. I think this should be a good long.