The 4h moving average has shifted from a bearish pattern at the end of November to gradually converging in early December, and now a new downward divergence is just beginning. Plus, it has already retraced 61.8% of the rebound. In other words, if the bulls want to counterattack, they must make a sharp move within 1-2 days. Since the original trend is downward, the current moving average starting to diverge downward again after converging only leads to two possible outcomes: sideways consolidation or the start of a new downward wave. If it doesn’t get back above 8.9w by Thursday, or if the price first breaks below 835, it’s time to exit and wait on the sidelines. For those looking to go long around 85xxx, there’s no need to set a stop loss at 835 anymore; you can set it at this morning’s 8.5w, just a few hundred dollars for a stop loss. Otherwise, there’s no need to open a long position.