2H Chart - Price Key Points:
- Massive reversal initiated at approx $7608.
- Follow through with strong waterfall at approx $7244.
- Momentum heavily negative.
- Volume confirmed downtrend.
- RSI and MACD attempting to find a base.
- Stochastic RSI renders a positive divergence.
- Further weakness might increase the possibilities of retesting the bottom from 01 April 2018.
Possible Scenarios:
Long: On a confirmed break above $6942 – Price Target $7190 | Probability: 32% | Signal Strength: 2/5
Neutral: Price Range $6688 - $6942
Short: On a confirmed break below $6688 – Price Target $6419 | Probability: 35% | Signal Strength: 3/5
Our Stance: Shorts triggered (see previous post range).