Happy Friday crypto friends! Bulls are seeing a bounce after hitting support and oversold on the hourly. However, this is to be expected as it is looking perfectly to that of a bear flag. We are seeing a bounce with declining bull volume showing lack of strength and follow through.
My likely prediction is that we will still see a failure of the bulls to push prices higher and be met with bear opposition, ultimately pushing prices back down.
Lots of support at the $10,400 level now, but I'm predicting a blow through this and a test of the $9,400 level.
Resistance is at the $12,100-12,400 level, and I can't really see going higher than this on the shorter term unless some major news event comes out pushing bulls back into the markets.
Hope you all have a great Friday and weekend ahead!
