On the daily charts
we see the RSI
approaching 60 and a decline in volume
. Also on the hourly charts we see the price approaching the upper Bollinger Band
, decline in volume
and an overbought situation on the RSI
. The exchanges will likely push the price a bit more up to sell into the stop-losses of traders that shorted around 6400-6800. This will push the price into the 7100-7300 range and mark the end of the B leg of the ABC Elliot
Correction Wave, after which we can expect a decline to the 4800-5000 range the coming days.