Tl;dr: Downtrend sustaining, EMA100 wave still rolling down, avg. RSI ~45.
Current price: 6267 USD Two situations for the following 3 days, green (positive) red (negative).
Summary Peaks have been following the general descending triangle while bottoms have been following bottom red line. Waves are decreasing in power, effectively becomeing a squeeze in the long run. The last peak at the 25th of july at 8400 usd, took 26 days (an important Ichimoku number). From that peak down to current low at 5950, is 18 days, another important number.
In which case we can expect the following: Following 18 days from this low, which becomes the 31st of august (18 days from the 13th), the current max ceiling is 7600 usd. This will be met with the the necessary resistances and supports, marked in the dotted horizontal lines.
The bottom for this period lies on 5400.
Patterns When we consider a pattern view, every last new high was followed by 3 big drops, for example:
4th march peak 11400 > 9850 > 9150 > 7240
5th may peak 9940 > 8560 > 7750 > 6800
25th july peak 8425 > 7125 > 6600 > ????
This leads me to believe another low has to be formed.
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