2H Chart - Price Key Points:
- Bulls blew a great opportunity. Last night's consolidation failed with a breakdown at approx $7080.
- For the past 12HRs under 20MA, 50MA and 100MA.
- No second breakdown has occured as of yet (continuation with another leg down).
- Momentum attempts to find a short term bottom.
- Models hint that there might be a last chance to recover lost ground.
Possible Scenarios :
Long: On a confirmed break above $6775 – Price Target $7050 | Probability: 34% | Signal Strength: 3/5
Neutral: Price Range $6602 - $6775
Short: On a confirmed break below $6602 – Price Target $6206 | Probability: 47% | Signal Strength: 5/5
Our Stance: Market needs to find footing. Otherwise short.