Since the triangle "real-breakout", we have made about half the measured move, only to retrace to previous resistance (R1).
If we can hold R1 this week, there is a strong potential to complete the measured move at $78K.
However, according to the Squeeze Momentum indicator, there is a bearish thrust that could last a few months.
As this is a weekly indicator, it will be key to hold R1 through this weekend.
If we can hold R1 this week, there is a strong potential to complete the measured move at $78K.
However, according to the Squeeze Momentum indicator, there is a bearish thrust that could last a few months.
As this is a weekly indicator, it will be key to hold R1 through this weekend.
48K could be the next support, but I expect we test S1 at 42.5K