Hi, mates!
Local situation is bullish.
The lows haven't been renewed.
Each one is higher than the previous one.
We see a volume decrease during the fall.
Stop orders caught under $9900 (pivot from Sept 11th), as well as the price coming back to the main trading zone aren't favourable for the bears. They didn't manage to create a lower low at high timeframes.
The price is in the local descending channel, which also supports the idea that it's a correction, not an impulse.
We're expecting the market to go up from the descending channel towards targets above $14k.
Stay tuned and follow us for updates.
Local situation is bullish.
The lows haven't been renewed.
Each one is higher than the previous one.
We see a volume decrease during the fall.
Stop orders caught under $9900 (pivot from Sept 11th), as well as the price coming back to the main trading zone aren't favourable for the bears. They didn't manage to create a lower low at high timeframes.
The price is in the local descending channel, which also supports the idea that it's a correction, not an impulse.
We're expecting the market to go up from the descending channel towards targets above $14k.
Stay tuned and follow us for updates.
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