Friends, observe here we have strong Fib Channel support that was previous resistance early 2017 shown here:
A breakout here will be violent and impulsive!
If this scenario plays out, we can look at testing the top of the fibonacci uptrend channel around $5200 - $5400
If we break down, we will retest the next uptrend support around $2800 and see if we can consolidate upwards for a third try on breaking the bearish resistance.
This is very exciting everyone!
Current long trade:
A breakout here will be violent and impulsive!
If this scenario plays out, we can look at testing the top of the fibonacci uptrend channel around $5200 - $5400
If we break down, we will retest the next uptrend support around $2800 and see if we can consolidate upwards for a third try on breaking the bearish resistance.
This is very exciting everyone!
Current long trade:
Comment:
Comment:
We did test the resistance
Comment:
:D
