As I mentioned, it was a bearish outlook on the ascending wedge, and we have now broken downwards. First strong rebound was from the MA100, and currently we are on expecting a little more sell pressure
It is expected to bounce off the EMA 200 which is coincidentally where the 0.382 fib level of $2738 is.
It turned the previous resistance levels ~$2900 to support levels, but I fear this may fall further towards the $2738 mark.
We've been getting long bearish engulfing candles after a strong push upwards - which is indicative of more downward pressure (on the daily).
Let's wait a couple days out.
It is expected to bounce off the EMA 200 which is coincidentally where the 0.382 fib level of $2738 is.
It turned the previous resistance levels ~$2900 to support levels, but I fear this may fall further towards the $2738 mark.
We've been getting long bearish engulfing candles after a strong push upwards - which is indicative of more downward pressure (on the daily).
Let's wait a couple days out.
