Global or local - the situation looks favourable to the bears. Recently, the price tried to break through the resistance at $8800, but this attempt was rejected. The fact of this occurrence is telling us about the strength of resistance and the absence of power needed for the bulls to break through the resistance. We can also look at this "pump" as a short squeeze.
In addition, the price left the boundaries of the rising channel, which is a bearish sign. The last hope for the bulls is the zone of $8250 - $8350, when held, the price has a chance to go up. However, when it is broken through, the price will rush downwards. Every support and resistance is marked on the chart.
In addition, the price left the boundaries of the rising channel, which is a bearish sign. The last hope for the bulls is the zone of $8250 - $8350, when held, the price has a chance to go up. However, when it is broken through, the price will rush downwards. Every support and resistance is marked on the chart.
