If the support here cannot be held then it wouldn’t look good for the bulls. pressure could push the price to the start of wave 1 which would then could be a turning point. Therefore I would place my stop at $10,200 (5.13%).
Confidence Rating: 8/10
We look to be completing an inverse head & shoulders pattern, in which the target would be around $17,700. In order to confirm this pattern we must break the neckline with some volume. This could lead us to the end of the 5th of 5th wave at the resistance level around $12,700 where it could take a correction before fulfilling the target.
In whatever scenario we must pay attention to the wave count! We still aren't all out bullish yet. Good luck everyone!