URGENT: There is still hope for the bulls.... just not much

25 Haz 2021

Despite of a quick push through the resistance yesterday we saw no follow through.... that's certainly a sign of weakness. Further notice the RSI trend line we have broken... I expect this to be resistance now.
If this wasn't enough we have NOT established a higher low. The support line is being hit for a third time on the 4 hour.
But there is still a sliver of hope.... if green support holds we have at least a chance to defeat the overhead resistance. Again the massive volume spike from the 29k region should be considered bullish.

Then again I do not believe the bulls want to see a re test of the 29k area as it seems likely to break being the last support before the 25k region in my opinion.

Still in a cash position personally. I am turning very pessimistic in the 30 region for now.

A close below 32200 in the next week will be the confirmation I am looking for to start looking for an entry in the mid to low 20's

Good luck and may your portfolio be full of green!

Cheers,

Philipp

25 Haz 2021

Not

and it broke the support before I could finish my analysis.... anyways look for a four hour candle below 32200 (at minimum) for confirmation.