A quick look now the Daily candle has come to close, the rejection earlier today on the 4hr took price down to support. Now we are looking to re-test this support. If prices breaks back below the $17.9K level, I'd expect it to return to previous lows before a bounce, or falling lower as a consequence of confirming a "double top" and ATH rejection.
Price held the $18K support level, for now establishing a bullish higher low, while now re-testing local resistance. The trend remains bullish with old resistance now confirmed as support.
The Daily RSI that remains my main bearish concern, price strength is now testing the bearish divergence that formed over the past few days:
The bearish divergence looks like it can easily be broken, due to the steep angle of divergence, but while price re-tests resistance levels a rejection here could be the confirmation.
Price held the $18K support level, for now establishing a bullish higher low, while now re-testing local resistance. The trend remains bullish with old resistance now confirmed as support.
The Daily RSI that remains my main bearish concern, price strength is now testing the bearish divergence that formed over the past few days:
The bearish divergence looks like it can easily be broken, due to the steep angle of divergence, but while price re-tests resistance levels a rejection here could be the confirmation.