Looking at our trend timeframe we see price continuing to respect out downtrend, with no signs of reversal. Stochastic RSI showing momentum is in favor of bears with another potential drop ahead of us. Last time we were at this price was back in November of last year where we saw a run from 11400 up to 55000. Will watch smaller timeframe for entry, do we get a Q4 repeat?
Shifting over to our pattern timeframe we see price has found resistance at 12000, and support at 11000. Stochastic RSI showing momentum is in favor of bears, a daily close below 11000 and expect a sell off towards our next major support zone. However if we see a daily close above 12000 expect a push towards 18000.
