Hi guys!
It might seems like, that we are ready again for another move upwards and the correction ended. But in my opinion it is not the case.
If you have a look on the fibbonachi, you can see that we pulled back to the 0.382 level which is quite important. 8k also acts as a psychological resistance.
The VPVR also shows resistance and I drew a black trendline which is also a resistance. The last thing is the very overbought 4H stochastic RSI.
If we take all these informations, I think it is more likely to break downwards, to our first target range: 7k-6.8k.
***It is not a financial advice, it is only my opinion.***
If you liked the analysis, consider leaving a like, and if you have any questions feel free to comment below!
It might seems like, that we are ready again for another move upwards and the correction ended. But in my opinion it is not the case.
If you have a look on the fibbonachi, you can see that we pulled back to the 0.382 level which is quite important. 8k also acts as a psychological resistance.
The VPVR also shows resistance and I drew a black trendline which is also a resistance. The last thing is the very overbought 4H stochastic RSI.
If we take all these informations, I think it is more likely to break downwards, to our first target range: 7k-6.8k.
***It is not a financial advice, it is only my opinion.***
If you liked the analysis, consider leaving a like, and if you have any questions feel free to comment below!
Note
Seems like the 0.382 fibb acted as resistance and we are reversing, everything looks nice, I'll keep you updated
Disclaimer
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.
Disclaimer
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.