There is a clear pattern going on here!
Let's take a look at the downtrend channel first.
We had something similar in the previous correction, which was if possible, sharper than this one.
Th e previous one had 2 big waves, while now we already completed 3.
MACD and RSI and VOLUME signal a bigger support for this second pattern, rather than the first one.
In fact, RSI touched for the first time since june the oversold region, and volumes are really high around the 9.000$ area.
Graphically, we can safely state that we have a local minimum if we break the downtrend channel, and trade above 10.000$ for a couple of days.
It's most likely to see new highs if we break the UPTREND or even better, FOMO line, while a retest of 8000$ is likely if we break the Big support.
Let's take a look at the downtrend channel first.
We had something similar in the previous correction, which was if possible, sharper than this one.
Th e previous one had 2 big waves, while now we already completed 3.
MACD and RSI and VOLUME signal a bigger support for this second pattern, rather than the first one.
In fact, RSI touched for the first time since june the oversold region, and volumes are really high around the 9.000$ area.
Graphically, we can safely state that we have a local minimum if we break the downtrend channel, and trade above 10.000$ for a couple of days.
It's most likely to see new highs if we break the UPTREND or even better, FOMO line, while a retest of 8000$ is likely if we break the Big support.
