As you can see in the charts, whenever we touched the downtrend line, we get rejected. I believe this is a good signal for the bears to enter short positions. I'm not saying that we will get rejected for the 3rd time; however, I am still not convinced that we are now in a bull run because we have not made $8k and $9k level.
Also, as mentioned in my previous post, we have been forming lower highs and lower lows on the daily chart. We will confirm in the next 2-5 days whether we will get rejected or not.
Right now, I'm on the sidelines waiting for more confirmations.
Happy trading and be careful.
Disclaimer: Not financial advice. Trade at your own risk.
Also, as mentioned in my previous post, we have been forming lower highs and lower lows on the daily chart. We will confirm in the next 2-5 days whether we will get rejected or not.
Right now, I'm on the sidelines waiting for more confirmations.
Happy trading and be careful.
Disclaimer: Not financial advice. Trade at your own risk.