Harmonic Reversal Trigger at Strong Resistance
Reversal Structure at $8500 suggesting a decline to $3000 and possibly lower. Market structure of the run up suggests strong support at $4000 but the nature of the Harmonic Bearish Crab PRZ at $8500 suggest lower than even $3000 is likely. HOWEVER I will watch the lower time frames for bearish price structures and retracements up into the resistance level at 8k.
I expect a retracement to $8649. If there is no drop from there we may see prices go for a higher retest before proceeding downward.
I expect a retracement to $8649. If there is no drop from there we may see prices go for a higher retest before proceeding downward.
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