The chart really speaks for itself here. Even though we have bounced off of the recent lows, the trending price structure is now cracked. This will likely lead to chop / downside for the near / medium future. I don't like it long from here. This isn't to say we won't see highs, but the daily chart momentum is over for the near term.
Well, this is why we were talking about a proper correction being maybe down to 42K, maybe lower. It's been pumping up for a really long time. What we need to do is recharge & regain buying momentum, and the argument is that we need to really take a significant dip to do that. You can see that where we're at now didn't renew enough buy energy.
uranazo
⋅
@PianoSmash, Yes, you can see the distance between the higher highs vertically shrinking. Buyers are exhausted and rightfully so.