An interesting confluence of factors has manifest again in the 1HR chart that occurred back around May 26. That is the following:
In May, this portended an initial drop of 17.5% ($7k). If a similar drop occurred from the high of this recurrence, we could see a drop of $6.1k, back below $29k.
What do you think? A correction, a rally, or more sideways action?
- A Bullish cross of the 20MA above the 50MA; followed by
- A bullish cross of the 50MA above the 200MA; followed by
- An inside bar on a lower high.
In May, this portended an initial drop of 17.5% ($7k). If a similar drop occurred from the high of this recurrence, we could see a drop of $6.1k, back below $29k.
What do you think? A correction, a rally, or more sideways action?
