Price has rejected the old .618 fib level at 45000, on the Daily time Frame as well as the lower .236 fib level at about 44000,
With these rejections looking strong on the daily, as well as the stochastic on the daily looking ready to sell, I favor a short here again- sticking with my original analysis posted when we first reached this .618 level at 45000 area.
Although, we have had a full 4 hr candle closure above the .618 level at 4500, due to the massive daily wick I favor a short to 42000 here- and there price has potential to reject and continue to break up higher to 46k,
if price breaks has a closed 4 hour or daily candle below 42k- I can picture price coming to the next level at 40k.
With these rejections looking strong on the daily, as well as the stochastic on the daily looking ready to sell, I favor a short here again- sticking with my original analysis posted when we first reached this .618 level at 45000 area.
Although, we have had a full 4 hr candle closure above the .618 level at 4500, due to the massive daily wick I favor a short to 42000 here- and there price has potential to reject and continue to break up higher to 46k,
if price breaks has a closed 4 hour or daily candle below 42k- I can picture price coming to the next level at 40k.
