Forming the cup and handle fro my previous post.
Resistance zone I'm seeing are from 10.3k to 10k. (50 days MA, trendline and also 10k level should hold)
It's clear that there was not enough momentum for the bulls to break the pervious high of 11.8k. We needed that to keep the broader uptrend intact. Not all is lost yet. I also saw some people mention the major inversed head and shoulders pattern (red) forming but they see too much what they want to see.
Is all lost now and are we going back down to the lows?
Not...
To resume the higher lower we have to break the previous high (11800 USD) in the coming week. If we then break the 100 day moving average I think this will propel the price quite a bit higher. I see the next resistance as high as 14.5k.
