Rising wedge is forming (Black and pink vertical line) and inside possible rounded top
trading range is becoming smaller
volatility is droping down and BB are closing
heavilly from bottom. unless some miracle happens and we get the volume we could drop out of the wedge
to a 38.20 fib level where possible bounces are expected
green horizontal zone shows heavy trading activity where we could catch bears. For health correction down to 61.80
and a strong bounce would versify broadening wedge
Divergence on RSI has been shown and is traveling downwards in 70-50 range. together with Bollinger bands indicates correction (observe related ideas on trading with BB)
There is however still a chance that the bulls win the battle which could lead the price through the 9k psychological resistance up to 9500 levels
trading range is becoming smaller
volatility is droping down and BB are closing
heavilly from bottom. unless some miracle happens and we get the volume we could drop out of the wedge
to a 38.20 fib level where possible bounces are expected
green horizontal zone shows heavy trading activity where we could catch bears. For health correction down to 61.80
and a strong bounce would versify broadening wedge
Divergence on RSI has been shown and is traveling downwards in 70-50 range. together with Bollinger bands indicates correction (observe related ideas on trading with BB)
There is however still a chance that the bulls win the battle which could lead the price through the 9k psychological resistance up to 9500 levels
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