Next 24 Hours: Volatile, but mostly neutral in the long run, potential decline of around 0.5 USD.
Week: If we examine the chart below we see a pattern called a sellers climax in the works, the circled green is the climax, with high volume as well as a large drop and bigger spreads. the key to this is the "Test bar" which is the large green bar in the green circle, we can observe it closed at its peak and the rally began. The Blue circles indicate the secondary test, we can observe this by a general volume decrease and a price decrease, we can tell this secondary test has ended when we observe a cluster of low closes accompanied by a small spike in volume. This secondary test is the buyers and sellers ( bears and bulls) testing the market for stability. As we exit the secondary test the rally is full fledged, upon closer inspection we see that angles 2 and 3 are quite similar almost a continuation of eachother this is a common pattern. Lastly the purple zone is merely the neutral point that is ALMOST ALWAYS observed between sellers climax and secondary test it can be observed again once the price hits 29.0000. In short we expect to see this phenomenon a couple times over the next 7 days, although the big drops are intimidating the rally ALMOST ALWAYS outruns it.
