After a breakdown from the trendline we can see that the price was caught by major support which was solidified by an bullish engulfing daily candle.
Right now it's testing key resistance, we can either see price take a breather down to .618 level around $23000 or we break the pink resistance line and go up to 1.618 level or $26000
Also RSI has broken its 29d downtrend. Currently at 70 so a pullback then retest resistance is also a possible scenario.
Let us wait and see. Overall I am bullish.
Right now it's testing key resistance, we can either see price take a breather down to .618 level around $23000 or we break the pink resistance line and go up to 1.618 level or $26000
Also RSI has broken its 29d downtrend. Currently at 70 so a pullback then retest resistance is also a possible scenario.
Let us wait and see. Overall I am bullish.
Penafian
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