Borders of the flat channel are expanding. The resistance moved from $7700 to $7900 and the support moved to $7400.
Oscillators are on the overbought zone, RSI shows a bearish divergence on hourly TFs. Why don't I say to SHORT from current points? Buyers became obsessed with pushing the price upwards and more likely every touch of $7400 zone will be rejected.
Breakdown of the $7400 will lead to a huge dump, but it is very difficult to break it. So, my advice is to open SHORT from the zone of $7900 - $8000 and place tight stop loss.
*If this position is opened - you should carefully watch the market, it is a must when it comes to trading inside the flat zone.
Oscillators are on the overbought zone, RSI shows a bearish divergence on hourly TFs. Why don't I say to SHORT from current points? Buyers became obsessed with pushing the price upwards and more likely every touch of $7400 zone will be rejected.
Breakdown of the $7400 will lead to a huge dump, but it is very difficult to break it. So, my advice is to open SHORT from the zone of $7900 - $8000 and place tight stop loss.
*If this position is opened - you should carefully watch the market, it is a must when it comes to trading inside the flat zone.
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The chart has finally formed some semblance of a pattern - bearish wedge. The price grew up with almost no volumes. Before falling down we can see a short squeeze spike. Local priority is downward with the target at $7275.