Looking at the charts right now, I can see we're up against pretty heavy resistance (purple line + see circled red areas). RSI is getting into overbought territory, although some people say not to pay too much attention to this, and MACD is crossing down on the hourly (both circled in red).
It's hard to say at this point, what are peoples thoughts? I know there are still some out there waiting for weekly confirmation and more convincing daily confirmation, but in my opinion, the yellow downward trendline is broken, and we're probably out of the down-trend we've been in since the December peak*
Thoughts? Will we break through $11,200 area in the next few hours? I think we'll go down to consolidate a little first.
* This is just personal opinion and not trading advice!
It's hard to say at this point, what are peoples thoughts? I know there are still some out there waiting for weekly confirmation and more convincing daily confirmation, but in my opinion, the yellow downward trendline is broken, and we're probably out of the down-trend we've been in since the December peak*
Thoughts? Will we break through $11,200 area in the next few hours? I think we'll go down to consolidate a little first.
* This is just personal opinion and not trading advice!