Just want to update my analysis on the W chart for you!
As we see there is going to be a cross of 30 MA and the 89 next week (in the circle).
I played with them and noticed that there is a some huge correlation to the last bull cycle which started in the end of 2015. It could also line up with the 8500 $ area gap closing and the bounce from the weekly ribbon.
In addition it would make sence for the 1,2,3,4 weeks correction or if somebody likes the correction after the grave-yard candle on the 1 W chart.
If these indicators all line up, that would signal a perfect buy opportunity for me!
I will watch it carefully next week.
Happy and safe trading!
Always place stop-loss and don't forget to take profits!
*This is not financial advice, this is only an idea. Do your own research and act on your responsibility.
Just to much people waiting for 8,5 k areas... Front runned I guess!