The restistance above seems to be a hard nut to crack. The bulls tried several times now to break trough but did not succeed. The rising wedge finally broke to the upside, followed by an immediate rejection.
Altghough there was sufficient volume at first glance it was not enough to start the next leg up.
From a technical point of view the upward trendline has already broken and the daily MACD is crossing bearish.
The orderbook on binance marks a shrinking demand which might be yet another indicator we go down soon.
I'd be rather short here but I will keep still until the direction is clear since the bulls didn't gave up completely yet.
Maybe there will be another last try to push to the upside but there is plenty of bearish volume sitting around 7000 Sats.
Anyway, be ready for a decisive move soon.
Altghough there was sufficient volume at first glance it was not enough to start the next leg up.
From a technical point of view the upward trendline has already broken and the daily MACD is crossing bearish.
The orderbook on binance marks a shrinking demand which might be yet another indicator we go down soon.
I'd be rather short here but I will keep still until the direction is clear since the bulls didn't gave up completely yet.
Maybe there will be another last try to push to the upside but there is plenty of bearish volume sitting around 7000 Sats.
Anyway, be ready for a decisive move soon.
Thr chartpattern is forming a bearflag which miight send us down further.