Price retraced 50% of the bounce from 6k. We are now sitting on the 200 day moving average and a longterm trend line.
Good long entries after break of blue signal line and break out past the red log downtrend line.
Expect a strong move up to 24,000 if it breaks the red line.
Good long entries after break of blue signal line and break out past the red log downtrend line.
Expect a strong move up to 24,000 if it breaks the red line.
Comment:
if signal line doesn't break at 9k it could slide further down to 7,600
Comment:
9900 needs to be broken before entering long.
Comment:
alternative scenario: fakeout above signal line then drop lower to 7600
Comment:
wait for activity above 9800 before long entries
