short term shrinking price before it's new rally?

on MACD we can see a clear local bearish divergence pattern.

also price is moving above the local ascending pennant but sideways.

so if the price closed below the baseline on the chart has more chance

for more decline and at this case 21K would be our main support level.

also price can hit it's main resistant level around 25K before main correction.




Enjoy the market

Trade attivo:

remember: above the baseline more bullish, below the baseline more bearish

Trade attivo:

price declined after some consolidation moves as expected.
still seems more downward pressure could continue and I expect 21K will retest. however my judgment would be the same baseline. lets see

Trade attivo:

price touched the blue area and bounced back. I still don't see any strong move upside however could be more bullish if the price can close above new key level on my chart.

Trade chiuso: obiettivo raggiunto:

closed above the baseline and surged.