market price is in consolidation movement after last breakdown from end of September.
After confirming a double bottom we have seen a higher high on 4H which indicates in generell test of 9100 area but market price has fallen back within usual trading range very quickly which indicates many short sellers coming into the market at higher prices and this is a very bearish indicator.
On the other hand we are still bullish until market doesn't break the 8150 $ support but this will happen if the drawn pointed up trend line breaks down.
What I expect / my opinion: I will try to open a long at 8270 $ with tight stop loss under 8150 $ because market will go under 8000 $ if he breaks the 8150 $ as already mentioned above. Should market confirm the up trend line and not break under it we can expect test of 9100 $ as drawn in the chart.
-Bollinger bands getting very tight which indicates big incoming market movement
-MACD is near 0 line since hours which indicates big incoming market movement
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