Several options in my view:
- Either we've entered wave 5 of a downward trend (orange line) since 20k (blue resistance. If this is the case, possible retracement to 4k.
- We're in the ABC correction of the previous wave and about to continue. However it needs to break the resistances to confirm this.
RSI looks to test the resistance again but volume is going down.
55 EMA will likely act as a resistance now as well
- Either we've entered wave 5 of a downward trend (orange line) since 20k (blue resistance. If this is the case, possible retracement to 4k.
- We're in the ABC correction of the previous wave and about to continue. However it needs to break the resistances to confirm this.
RSI looks to test the resistance again but volume is going down.
55 EMA will likely act as a resistance now as well