Bearish divergence on RSI and MACD...
Bearish divergence on RSI and MACD on the hourly charts, plus I see a little heads and shoulders forming, signalling a likely drop to 
42K, and then further downside thereafter.
On the daily we are forming the handle to a cup and handle pattern, see:
.. so this drop to42K + further downside may lead to the completion of it.
On the other hand, the drop to42K (or lower) could just be a 'Subwave B' correction of an ABC, leading up to 34k-35k, that possibility exists too. We are heading into the weekend, so the weekend activity may push it to 34k-35k before the handle is complete.
42K, and then further downside thereafter.On the daily we are forming the handle to a cup and handle pattern, see:
.. so this drop to
42K + further downside may lead to the completion of it.On the other hand, the drop to
42K (or lower) could just be a 'Subwave B' correction of an ABC, leading up to 34k-35k, that possibility exists too. We are heading into the weekend, so the weekend activity may push it to 34k-35k before the handle is complete.
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