This chart is all about 'maybe' but let's look ahead and see what may line up...
1) if you look at the fact it took us 12d to peak after the drop and apply a 2/3 -> 1/3 thought to when we may drop again...that places us about 9/22, I am considering this as the earliest date we may enter the window for the next drop.
2) I expect one more attempt higher while in this range but i do not expect to push much stronger than 27k. This can also make an H&S pattern.
3) Sept before halving has historically produced an average of -17%, which would place us about 21,580 from 26k.
4) the DT formed previously has a 1.618 target of around 21k
5) there are D1 CME gaps between 20-22k
6) the R. Wedge target is about 20,600
7) we will likely continue flat until we intersect the solid orange TL that originates from the 7/13 high.
8) the dashed TL originates from 61,500-ish in Jan 2021.
9) there is an HVN around 25k that I expect to test and ultimately pierce during the September chop.
10) its less likely that we revisit the area up to 29,200 now, but still possible to get another, stronger push for a backtest to this area.
11) if we backtest to 29,200, then i believe the next date for drop will likely be pushed out past mid October.
1) if you look at the fact it took us 12d to peak after the drop and apply a 2/3 -> 1/3 thought to when we may drop again...that places us about 9/22, I am considering this as the earliest date we may enter the window for the next drop.
2) I expect one more attempt higher while in this range but i do not expect to push much stronger than 27k. This can also make an H&S pattern.
3) Sept before halving has historically produced an average of -17%, which would place us about 21,580 from 26k.
4) the DT formed previously has a 1.618 target of around 21k
5) there are D1 CME gaps between 20-22k
6) the R. Wedge target is about 20,600
7) we will likely continue flat until we intersect the solid orange TL that originates from the 7/13 high.
8) the dashed TL originates from 61,500-ish in Jan 2021.
9) there is an HVN around 25k that I expect to test and ultimately pierce during the September chop.
10) its less likely that we revisit the area up to 29,200 now, but still possible to get another, stronger push for a backtest to this area.
11) if we backtest to 29,200, then i believe the next date for drop will likely be pushed out past mid October.
Comment:
It didnt follow my purple path, but it is following the zones I set up.