Despite positive price action last month consolidation looks rather like redistribution.
A lot more inflows than outflows, no clear signs of accumulation yet.
Imo if we reject here hard 18.2 wont hold.
That could lead us even towards 14 k, and that's why:
- that would be test of 2019 top;
- that would be a lower band of the falling wedge;
- it would be 5th wave of a bearish trend;
- that would be potentialy bottom of huge ascending channel;
- potential bottom of the lower bear flag;
- test off trend line from ath.
A lot more inflows than outflows, no clear signs of accumulation yet.
Imo if we reject here hard 18.2 wont hold.
That could lead us even towards 14 k, and that's why:
- that would be test of 2019 top;
- that would be a lower band of the falling wedge;
- it would be 5th wave of a bearish trend;
- that would be potentialy bottom of huge ascending channel;
- potential bottom of the lower bear flag;
- test off trend line from ath.