- On the weekly and daily time frame, price has rejected a stong support level which is a psychological level $33 000;
- Price did break and retest the 4H trendline;
- We have a probable inverted Head and Shoulders forming (4H);
- Price did reject a 1H support which was the previous resistance level;
- Waiting for the break and retest of the HS neckline to go long to $34 000.
- If not, below $33 000 is the best area to go short to $32 500.
Patience and Risk management.
- Price did break and retest the 4H trendline;
- We have a probable inverted Head and Shoulders forming (4H);
- Price did reject a 1H support which was the previous resistance level;
- Waiting for the break and retest of the HS neckline to go long to $34 000.
- If not, below $33 000 is the best area to go short to $32 500.
Patience and Risk management.