I know nobody is going to like this, but it looks like another bearish pennant on the 4H. I am expecting a short term bounce from here to 7k area. Then, I am expecting a breakdown of this triangle to 6000. However for this theory to be possible 6700 needs to hold.
XMR retested the support turned resistance DAILY RSI is on 50 areas pointing down also Stoch RSI is oversold areas. if it break downwards we can see a 16 percent drop to the next support box in short term and possibly testing the uptrend support on 0.014k levels in the long term.
I would have blindly buy into this setup because it looks like a strong weekly support. However I dont know what BTC is going to do. I will wait and see how this level going to hold. Daily RSI Bullish div and oversold areas.
LTCBTC broke down from the triangle and retested the previous support that turned into a resistance. Now I see a Daily RSI BEARISH DIV and also Stoch RSI is in overbought areas. In short term a day or so the move will revers to downside.
RSI on the daily showing a rising wedge also Stoch RSI is overbought areas and finally it tested the same resistance multiple times on short period of time. Downside movement is more likely than upwards.
Right now btc is accumulating for another move down I think because of the 1H bearish pennant. Bears are tired and trying to gain strength. 4H stock rsi is oversold areas as the daily I am waiting for another drop down to 6000 area and a decent bounce from there.
As you can see if this price level holds we will see a bearish move from BTC. There is a huge resistance level that BTC is facing right now bulls really need to push the price through this cloud resistance + fib resistance + also the the kijun sen. I entered a short position at 10390 and put my stop loss at 10680 right above the previous top.
