I think we are near the bottom if it's not in already, I'm expecting it to be around 5500$ aka 200 Weekly MA or EMA.
If we reach that level I think weekly RSi will create a bullish div from the 3k bottom allowing trend to reverse.
For now market sentiment make me doubt it, as it seem to much people are expecting lower level (Greed and Fear index showing Fear / extreme fear lately) and you know the market rarely give what everyone is expecting.
So meanwhile I see possible a move toward 8200 or even a test of the bearish trend line ~9k.
If we were to break 9100 $ I would see this theory as invalide and 6500 as the bottom.
At this end I want to see weekly 53 RSi level re-clame.
If we reach that level I think weekly RSi will create a bullish div from the 3k bottom allowing trend to reverse.
For now market sentiment make me doubt it, as it seem to much people are expecting lower level (Greed and Fear index showing Fear / extreme fear lately) and you know the market rarely give what everyone is expecting.
So meanwhile I see possible a move toward 8200 or even a test of the bearish trend line ~9k.
If we were to break 9100 $ I would see this theory as invalide and 6500 as the bottom.
At this end I want to see weekly 53 RSi level re-clame.
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