Hello Traders,
Quick post to update. We've reached our $17,146 target. It is my comfort level to take most of my profits here. For those who are more risk adverse, you may decide to hold. I do not feel comfortable holding any longer. My target of $17,146 AND $17,784 were both reached and we are overextending ourselves here, IMO. RSI is overbought and we're well above our 9 month channel. If I was a betting man, I'd say a pullback to a range somewhere within or around that channel is imminent.
Though, I didn't get past predictions exactly right in terms of timing (and I did miss one lower level target), almost all of my targets have been nailed. I don't want to push my luck. We are on a good winning streak here.
Finally, an extremely significant development has taken place since my last post. You will notice that Huge Line of Resistance. Previously, that was our overhead resistance for over 2 years. We have broken through that. THIS IS AN EXTREMELY BULLISH TREND! And for this reason, I had hesitated making this post suggesting a shorter term pullback. Our pullback may not happen. The bulls are very strong here. However, until they are able to break above (and confirm) our $17,784 marker on the daily, I will continue to suggest a near terms (within a month) pullback.
I will be looking to go long again as we come back into our 9 MONTH CHANNEL.
Hope this helps some of you.
Happy trading all!
Quick post to update. We've reached our $17,146 target. It is my comfort level to take most of my profits here. For those who are more risk adverse, you may decide to hold. I do not feel comfortable holding any longer. My target of $17,146 AND $17,784 were both reached and we are overextending ourselves here, IMO. RSI is overbought and we're well above our 9 month channel. If I was a betting man, I'd say a pullback to a range somewhere within or around that channel is imminent.
Though, I didn't get past predictions exactly right in terms of timing (and I did miss one lower level target), almost all of my targets have been nailed. I don't want to push my luck. We are on a good winning streak here.
Finally, an extremely significant development has taken place since my last post. You will notice that Huge Line of Resistance. Previously, that was our overhead resistance for over 2 years. We have broken through that. THIS IS AN EXTREMELY BULLISH TREND! And for this reason, I had hesitated making this post suggesting a shorter term pullback. Our pullback may not happen. The bulls are very strong here. However, until they are able to break above (and confirm) our $17,784 marker on the daily, I will continue to suggest a near terms (within a month) pullback.
I will be looking to go long again as we come back into our 9 MONTH CHANNEL.
Hope this helps some of you.
Happy trading all!
Stewdamus Trades -
Prophesying the price action of markets one chart at a time.
Crypto predictions, targets, how-tos, and much, much more!
Never miss a prophecy. Sign up for my free newsletter at:
stewdam.us
Prophesying the price action of markets one chart at a time.
Crypto predictions, targets, how-tos, and much, much more!
Never miss a prophecy. Sign up for my free newsletter at:
stewdam.us