Merry Christmas all! Due to price dropping, I wanted to post a quick update. Yesterday I said we needed to see the daily candle close above the $4,120 resistance and the golden pocket (area between the 0.618 and 0.65 fib levels). Unfortunately, this didn’t happen. The bears we’re able to push it as low as the $3,800-$3,600 support.
Looking at the daily chart, we can see price is back below the 21 Day EMA. If the daily candle closes below this level, it might signal lower prices to follow.
In today’s video analysis I discuss where prices may be heading next, key areas to watch and so much more. I hope you find it helpful.
I hope this has been helpful. I’d be happy to answer any questions in the comment section below. Until next time, wishing you safe and profitable trading!
Disclaimer: I am NOT a financial advisor and this is NOT financial advice. Please always do your own research before investing.
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