Still slightly oversold on the 1 week scale. The Stochastic RSI has only just begun to wrap back up, and the MACD hasn't even begun to creep towards a bullish turn. The next support level at ~5600 is roughly midway between a .618 and a .786 retracement, so that is where I'll anticipate the next zone of support. I expect price to bounce and trade sideways before deciding what to do. Cash on standby.
STOP IGNORING THE 1 WEEK SCALE.
STOP IGNORING THE 1 WEEK SCALE.