We could expect some more volatility, due to the fact that a growing number of less experienced traders entered the market lately. But we can see the pattern repeating itself. We have got the low already, although it overshot our 5900 mark and went all the way down to 5500. This could be explained by more panic sellers, as stated earlier, in the market at the moment.
If the RSI indeed jumps on the 50 line and the MACD flattens, we are on our way back to the 7000 region, from where we'll see a decline towards the 5000 area. Mind you: this will be a rollercoaster, since there is much uncertainty among traders, due to the large swings and corrections.
To continue the pattern from the 7000 region, we should see less volume when approaching the area and a bounce downwards on the 60 RSI line.
If the RSI indeed jumps on the 50 line and the MACD flattens, we are on our way back to the 7000 region, from where we'll see a decline towards the 5000 area. Mind you: this will be a rollercoaster, since there is much uncertainty among traders, due to the large swings and corrections.
To continue the pattern from the 7000 region, we should see less volume when approaching the area and a bounce downwards on the 60 RSI line.