There's so much in play right now that it's difficult (for me) to weigh the various wedges, patterns, supports and resistances. What I'm seeing is enough volatility to trade, but not enough momentum to pick a macro direction. The different time scales are all over the map. Expect the tide to turn several times today. I get the impression that we will be squeezed into the 9200 area on the 26th, which leads me to believe that even if we do break above current resistance levels, it won't be by much and it won't be for long. On the other hand, if we drop below support then we may avoid that squeeze. There's concern over the fact that we dropped to the 8900's during this last correction. While it does look on the longer timescales as if we're just entering a down trend, I don't think it'll be too bad. I'm beginning to doubt that we'll see a strong correction.
Order cancelled:
I think my takeaway from this should've been that the pressures in play were perpetually squeezing the price towards 9200 over and over until a good enough reason came along to break our sideways trend. A few of those reasons have come along. Many stores are beginning to offer access to crypto. Venmo and Paypal may also. I'd be cautious with Paypal. They have a history. All told, I'd call this chart a failure in my ability to understand what was happening.
Trade closed: target reached:
Well. Waddaya know.