See purple bullish pennant on weekly chart. Only measuring the flagpole back to the prior rally to keep speculation at a minimum. Charts show we are approaching the bullish pennant breakout (another week or so) and after the breakout from that triangle, TA says we're likely to go up approximately 408% over a 77 day period after breakout.
It's cheap, buy now. Looking long term, I don't see any reason why we'd fall drastically. However, on the daily chart, I see dual inverse curves and the second inverse curve looks like an inverted C&H formation, but that would be more short term drop. That could break us downward out of this purple triangle which could lead to some indecision in the market. Always possible, but I'll trade based on my first instinct, not the negative or short term.
HODL!
It's cheap, buy now. Looking long term, I don't see any reason why we'd fall drastically. However, on the daily chart, I see dual inverse curves and the second inverse curve looks like an inverted C&H formation, but that would be more short term drop. That could break us downward out of this purple triangle which could lead to some indecision in the market. Always possible, but I'll trade based on my first instinct, not the negative or short term.
HODL!
Comment:
Also note, this drop is related to the CFTC. There is no volume behind it. It's scared n00bs who are drawing it down right now. Just be patient.
The Pennant is just a little different. Purple line is bottom of that pennant and at this point it may take until end of June or first few days of July before we break upward and rally.
HODL! Patience.