$6800 and $5500 would be the short term targets in case of a breakout or a breakdown.
Indicators look neutral even with the Stoch RSI overbought (curving up).
If break down occurs an inverse Cup & Handle pattern forms, which could pull the price down to $5500, which COULD be our bottom before rallying, keeping in mind, much lower targets could be reached, especially with long capitulation wicks.
Indicators look neutral even with the Stoch RSI overbought (curving up).
If break down occurs an inverse Cup & Handle pattern forms, which could pull the price down to $5500, which COULD be our bottom before rallying, keeping in mind, much lower targets could be reached, especially with long capitulation wicks.