While the greater pennant formation that everyone has been following has a 5% lean towards breaking downward, and continual rejection from the $40k zone suggests a deeper dive may be in store, overall momentum suggests a possible bullish rally in the short-term.
We are significantly over-extended from the 200 EMA and this looks to be leaning towards catching back up, which tends to happen regardless of overall trend.
The aggressive bearish spread has been compressed and flipped.
Oscillators sit with plenty of room to pump.
Lower Ichimoku support is holding.
We are significantly over-extended from the 200 EMA and this looks to be leaning towards catching back up, which tends to happen regardless of overall trend.
The aggressive bearish spread has been compressed and flipped.
Oscillators sit with plenty of room to pump.
Lower Ichimoku support is holding.