Bullish view:
We just got into the uptrend confirmation range $7 620 - $7 720. If we break up I think we can go up to $7 850 - $8 000. But for now, it is looking that we will see some sideways price action in this range or even dip again below because RSI is looking oversold on 30min chart (not as bad on 2h chart).
Bearish view:
It is simple if we fail to break up from this and then we fall to around $7 050 and it would fail to hold too we could go even to $6 500 range. I do not expect this support to fail, I think it will hold and we will strongly bounce up from that.
For me it is looking pretty bullish right now if we break this resistance.
I am NOT a financial adviser of any kind and I am NOT responsible for any financial decisions made by you. I wish you a very profitable trading!
