Price getting rejected by the golden ratio and previous resistance also price seems to have hit double top on daily,
Looks like we are trading in a bear channel and we will most likely see bear momentum continue in coming time, I'm expecting another 10%-12% drop from here
Price getting rejected by the range top and the golden ratio with the confluence of 1D OB, don't fomo yet.
I'm expecting a retrace down to green support zone
Price is currently trading below the resistance at 7300 which is also .618 fib level, bearish divergences on 4hr and smaller TFs. Although every indicator is bearish it seems like we are gonna break 7300 and push for 7500 for the short squeeze.
I'll be looking at the 7600-7700 very carefully as we are about to test the long term trendline resistance.
So far...
