Thought we would get up to the .618 fib level of roughly $10.9k at the uppers side of the wedge but seems like we broke out under it.
Previous golden cross was followed by a dump in price before continuation of bull cycle.
Retracement on this rally is overdue.
It’s possible we quickly get back into that wedge and if so then the upper target of roughly $11k still in play.
Possible pull-back zones:
$9.5k-$9.6k range
$8.9-$9k range (less likely in the short-term)
Let me know what you think.
Safe trading, cheers!
Previous golden cross was followed by a dump in price before continuation of bull cycle.
Retracement on this rally is overdue.
It’s possible we quickly get back into that wedge and if so then the upper target of roughly $11k still in play.
Possible pull-back zones:
$9.5k-$9.6k range
$8.9-$9k range (less likely in the short-term)
Let me know what you think.
Safe trading, cheers!