Hi Traders let's be real. While a lot of those pretending to be gurus specially in social media saying we are on bullish now this is all BS and just getting out there posting their TA for subs and or make money on on whatever they are promoting for their own pocket.
So much for that.
Let's look at this monthly chart.
Price made a pause on a monthly support line and below 62% of the monthly range. We know price doesn't move in a straight line but in waves. Understandably those who shorted will have to take some profits on key levels and could say lots of interested buyers are present on that zone. I would if it is basing as well.
Zooming out to daily
If we see a bullish break out from the overall consolidation then this would be a good sign for a possible bullish scenario. But we still have to pass through resistance areas marked in red horizontal lines.
worst part is if we see an impulsive bearish move breaking out from the consolidated zones then we might see 12k maybe.
Let me know if u agree.
So much for that.
Let's look at this monthly chart.
Price made a pause on a monthly support line and below 62% of the monthly range. We know price doesn't move in a straight line but in waves. Understandably those who shorted will have to take some profits on key levels and could say lots of interested buyers are present on that zone. I would if it is basing as well.
Zooming out to daily
If we see a bullish break out from the overall consolidation then this would be a good sign for a possible bullish scenario. But we still have to pass through resistance areas marked in red horizontal lines.
worst part is if we see an impulsive bearish move breaking out from the consolidated zones then we might see 12k maybe.
Let me know if u agree.