What I see in a quick review:
1) Volume dropping
2) RSI is almost at it's bottom
3) MACD makes higher lows every drop, but so does the chart
4) red line is the important support line
5) Each drop becomes less aggressive, duration reduces.
What I expect:
1)
One more rally like we seen before in the last few months (1-4)
a) (3-4) will happen really fast
b) breakout of the symmetrical triangel with volume
2)
Bearish scenario since most of the people here are pretty negative. (4-red 5)
a) Support gets lost - testing 6400-6600 area
b) Shot to get back in triangle but refuses
c) 4000 incoming
*This scenario can also happen in a few days
I'll personally go for 1, bear market is sweating out. Drops are getting less agressive and alts are pretty much at their bottom.
1) Volume dropping
2) RSI is almost at it's bottom
3) MACD makes higher lows every drop, but so does the chart
4) red line is the important support line
5) Each drop becomes less aggressive, duration reduces.
What I expect:
1)
One more rally like we seen before in the last few months (1-4)
a) (3-4) will happen really fast
b) breakout of the symmetrical triangel with volume
2)
Bearish scenario since most of the people here are pretty negative. (4-red 5)
a) Support gets lost - testing 6400-6600 area
b) Shot to get back in triangle but refuses
c) 4000 incoming
*This scenario can also happen in a few days
I'll personally go for 1, bear market is sweating out. Drops are getting less agressive and alts are pretty much at their bottom.