As expected, prices are moving nicely lower, trying to find a bottom. When we look at the volume profile indicator (right side of the chart) - this indicator points to important levels of support and resistance, a wide bar represents a high value node while a narrow bar represents a low value node - it's equally easy and surprising to see that the $9k level is not that important. The $7.7k to $8k however, is important. We'll see where prices decide to go.

The weekly chart does not add much except that we're closing in fast on the moving averages that are supposed to hold the uptrend. All as expected.



The daily chart (middle) looks oversold, but both the weekly and 8 hour charts have some more room to the downside. Both the 8 hour and daily seem to be building some divergence on the MACD's.


The Renko chart is also in wave Y of 2, confirmed by the indicators.

It's looking good. Patience, once more is required to see where this thing is going to bottom.

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