This bounce looks done

15 июн. 2018 г.

We have the 28 day moving average (light blue line) pressing down on the candles with the 4hr chart. On the 12hr below and daily chart we have bearish divergence with the RSI. Not shown here is the weekly volume trend, but it is still heading down. Watching the volume in real time on binance, I can also see a subtle decline in volume while the price has been increasing ever so slightly. Since the divergence is on the 12hr and daily, there might be a little more time for the pump to bump up or it may go sideways during the next 12 to 24 hours, but I think the 6700 we already got may be the best we get out of it and the end result is that the RSI has simply built up enough room to go down again. I believe we will go below 6000 in the next few days or a week from now. As always, take my analysis with a grain of piss.