If the downtrend continues to certain levels as described by many TA technicians in this chat recently, we might as well watch for the continuation of the current bearish pennant patterns taking place. Logically placed on this chart to visually see if continuation persists. A logical ping Fib line was shown in chat on a chart and suggested the lowest low might be $52,777.27 .. That is shown as the bottom of the lowest arch on this chart.
There are many indicators knocking on the upside move, however larger TF's are still weighting down the difficult turn to the upside. I except at least one more downside move.
Temporarily feeling bearish on price, till a confirmation on Bullish shows its' self.
There are many indicators knocking on the upside move, however larger TF's are still weighting down the difficult turn to the upside. I except at least one more downside move.
Temporarily feeling bearish on price, till a confirmation on Bullish shows its' self.