Bears going crazy two weeks ago, then bulls going crazy last week.. We meet again at the cross road of multiple confluence point..
1. We are at the 61% fib level from the drop
2. We are ON the Upper channel from 2016 .
3.We are retesting the broken uptrend line .
4.MACD and RSI is turning on weekly .
The Risk Reward is very high for the Sell side.
I will wait for the 4 hourly chart to break the recent Uptrend before selling.
This sell will be invalidated if we break and close above the cross road.
1. We are at the 61% fib level from the drop
2. We are ON the Upper channel from 2016 .
3.We are retesting the broken uptrend line .
4.MACD and RSI is turning on weekly .
The Risk Reward is very high for the Sell side.
I will wait for the 4 hourly chart to break the recent Uptrend before selling.
This sell will be invalidated if we break and close above the cross road.