It is possible that the bounce from the last few days is actually a retest of the 200day EMA (see blue line). If this fails, this will confirm the reversal to a new low (expect 4500$ based on Fib levels). Keep in mind we are currently in an ascending wedge which is also considered bearish.
Day MACD looks like it will break to the bullish side. However, we see from previous weeks that it already did 2 fake breakout that resulted in massive bulltraps.
Once last thing to keep in mind that is not shown here is the possibility of a death cross (50day MA crossing the 200 MA). This may happen in the near future (weeks) and is a strong bearish signal.
I'm neutral for the moment
Day MACD looks like it will break to the bullish side. However, we see from previous weeks that it already did 2 fake breakout that resulted in massive bulltraps.
Once last thing to keep in mind that is not shown here is the possibility of a death cross (50day MA crossing the 200 MA). This may happen in the near future (weeks) and is a strong bearish signal.
I'm neutral for the moment