I made this analysis yesterday. In this case, we also expect a move closer to $62k, so based on this analysis, we have time to analyze until Tuesday to decide which way to go. The bears case explains the price action as the following. We broke out of last week’s consolidation with a manipulative move over the weekend/late Friday, so we trapped the longs by let the believing in higher prices by hold the price at the 
64K level. The EMA will not hold in this case and we go back to the lows of August 6 at around $51,000.
64K level. The EMA will not hold in this case and we go back to the lows of August 6 at around $51,000.Note
So far I nailed this one pretty accurate.
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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.